If you use your vacation rental for 3 days (<14 day and 10%) and you meet requirement to split costs to deduct on schedule E, can you take the difference in interest off your schedule A?
Example, 3 personal days and 40 rental days. Because of personal use I report only 93% of expenses against rental income on schedule E. I assume I can report the 7% of interest on my schedule A, but I wanted to check if that is true since IRS considers < 14 days investment property vs vacation (or second) home.
If you are completing an US tax return please ask your question here: https://ttlc.intuit.com/community/home/misc/03/en-us
Thank you for choosing TurboTax.
fitness2
Returning Member
billgallagher201
Level 1
THEONECR7
New Member
TTT1
Returning Member
Stan Q
Returning Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.