Publication 17
taxmap/pub17/p17-044.htm#en_us_publink1000171687If you change your home or other property (or a part of it) to
rental use at any time other than the beginning of your tax year, you must
divide yearly expenses, such as taxes and insurance, between rental use and
personal use.
You can deduct as rental expenses only the part of the expense
that is for the part of the year the property was used or held for rental
purposes.
 | At the time this publication went to print, Congress was
considering legislation that would extend the deduction for real estate taxes
when you are taking the standard deduction. To find out if this legislation was
enacted, and for more details, see your tax form instructions or go to www.irs.gov/formspubs. |
You cannot deduct depreciation or insurance for the part of the
year the property was held for personal use. However, you can include the home
mortgage interest, qualified mortgage insurance premiums, and real estate tax
expenses for the part of the year the property was held for personal use as an
itemized deduction on Schedule A (Form 1040).
taxmap/pub17/p17-044.htm#en_us_publink1000171688Your tax year is the calendar year. You moved from your home
in May and started renting it out on June 1. You can deduct as rental expenses
seven-twelfths of your yearly expenses, such as taxes and insurance.
Starting with June, you can deduct as rental expenses the amounts
you pay for items generally billed monthly, such as utilities.
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