Wednesday, November 18, 2015

Will my tax deductions change if I live in two places?


I currently live with my parents in which the home is under my name (and I pay mortgages). Therefore I get tax deductions on property tax and interest rate on mortgages.

I decided I want to move out and live alone but rent a cheap apartment. I will not rent the home out and will still pay for both mortgage and the rental.

Will I get less deductions on tax because of this? Also, what do I put as my residence when filing the tax out? (I will likely live more in the apartment rental but come 'home' ~2-3 times a week)
Added (1). Both are in same state btw.

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