Question re personal use percentage for rental property

[DENVERHIKER]

What is the name of your state? CO

I own a 3-unit residential rental building, and lived in one of the the units for Jan-Apr of 2007. At the end of April, I moved out and rented the unit out for the rest of the year. The unit comprises 40% of the sq. feet of the building.

My question is, how much of the use was for business, and how much was for personal? I understand I can deduct a percentage of the mortgage interest as a primary home mortgage, but I can't figure out if that percentage is just a flat 40%, or if I need to consider that I lived in the unit for only 1/3 of the year (in which case, do I multiply 40% by 1/3?).

 

[LdiJ]

What is the name of your state? CO

I own a 3-unit residential rental building, and lived in one of the the units for Jan-Apr of 2007. At the end of April, I moved out and rented the unit out for the rest of the year. The unit comprises 40% of the sq. feet of the building.

My question is, how much of the use was for business, and how much was for personal? I understand I can deduct a percentage of the mortgage interest as a primary home mortgage, but I can't figure out if that percentage is just a flat 40%, or if I need to consider that I lived in the unit for only 1/3 of the year (in which case, do I multiply 40% by 1/3?).

The unit was a personal residence for 4 months of the year, and a rental for the rest.

Therefore, the personal use is 40% of 4 months of interest. The rest is a rental expense.