What is the name of your state (only U.S. law)? UT
I moved out of a home and started renting it in 2012. I did not start renting it until August. When I am writing off mortgage interest and expenses do I just write off the payments starting when I first rented the home so 1/3 of the year? I would assume it works this way but wasn't sure. Do I split the mortgage interest between the rental time and the non-rental time?
I moved out of a home and started renting it in 2012. I did not start renting it until August. When I am writing off mortgage interest and expenses do I just write off the payments starting when I first rented the home so 1/3 of the year? I would assume it works this way but wasn't sure. Do I split the mortgage interest between the rental time and the non-rental time?