If you live in main home for 8 mo, then rent it out last 4 mos, how do you get interest and taxes to calc & distribute correctly on Sch E and A?

[abctax55 · Accepted solution]

To interpret Mr. Yote...you have to do the math & allocate accordingly to each Schedule.

[lso68]

Thanks - just making sure I am not missing something.  Thank you for being polite - I will think twice before asking for help again thanks to the first rude response.     

[IRonMaN]

If you think that was rude, you really must live in a fluffy world.  Say hi to the unicorns for me.

[abctax55]

His response wasn't rude.  Considering it's April 1st, I'm surprised anyone answered you anyway.
Happy rest of the tax season....you do realize we are all just VOLUNTEERS here, right?  And under the same looming deadline.

[IRonMaN]

With an adding machine.

[abctax55]

Hmmm  someone is snarky tonite.
@lso68  - Jeff's answer IS correct, even if you didn't find it helpful.  Not even Lacerte (PS's big sister) does the calculations for you under the circumstances you described.
Maybe you'd like his answer better if he said use an abacus ?

[IRonMaN]

Snarky?  I just answered the question on how I conquer the great mysteries of the wonderful world of taxes.

[abctax55]

I wasn't talkin'  'bout YOU :joy:

[IRonMaN]

:smile: