Asked by J
Lars moved to a new main home in 2023 and converted his former main home to a rental property. He rented his former main home for all of 2024. Where on his return should he deduct the mortgage interest, real estate taxes, and insurance paid for the rental property?
Schedule A (Form 1040).
Schedule B (Form 1040).
Schedule C (Form 1040).
Schedule E (Form 1040).
All Answers 1
Answered by
GPT-5 mini
AI
Schedule E (Form 1040).
Explanation: Once his former main home is rented (no personal use in 2024), mortgage interest, real estate taxes and insurance are rental expenses and are reported on Schedule E (Supplemental Income and Loss), not on Schedule A (personal itemized deductions) or Schedules B/C.
Explanation: Once his former main home is rented (no personal use in 2024), mortgage interest, real estate taxes and insurance are rental expenses and are reported on Schedule E (Supplemental Income and Loss), not on Schedule A (personal itemized deductions) or Schedules B/C.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.