House Hacking & Taxes

[Alexandre Campino]

H all,

Question on house hacking, I bought my current property November 2020, at that point I purchased all appliances for the house along other necessities. Quite large expenses.

Since January 2021 I have been renting out 3 out of 4 rooms (75%). Now taxes come due, and I was wondering if I could use those large expenses of 2020 for my rental business that started in 2021, of course I never used those expenses as write-offs in my 2021 returns. 

If not, can I just use the accelerated depreciation of those assets? (fridge, washer, drier, etc).

Bonus question, I have a Gym in my home that my guests can make use of. When I posted the ad I included it as a perk and it was a major attractive for my current guests (corona and restrictions). I spent almost 20k in equipment for that gym. How can I use that as a Tax Write off?

Best, 

Alex