Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Raha Wala
1
Votes |
4
Posts

House Hacking Question

Raha Wala
Posted

Hi BP'ers! New to the network and had a question. I'm exploring a potential house hack in Washington, DC where I live. I'm trying to understand the tax implications of how I would set it up since it would be a single-family home with rooms that I would rent out. I understand that there are significant tax implications associated with what operating expenses you can write off (mortgage interest, taxes, insurance, maintenance/repairs, etc.) and also eventual sale proceeds (121 exclusion v. 1031 exchange), depending on the percentage/square footage you assign to your personal residence versus rental property. A lot of the house hacking articles/blogs I've read frankly do not get into the level of nuance I'm looking for to properly evaluate the %/square footage split question. The best analysis on the subject I've heard is on Brandon Hall's Real Estate CPA podcast (episode #3), but I'd love to dive even deeper. Does anyone have suggestions for good resources on this subject? Or does anyone by chance know a good CPA in the DC-area that has some experience with house hacking situations? Thanks in advance! -Raha

Most Popular Reply

User Stats

17,447
Posts
30,123
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,123
Votes |
17,447
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Well @Brandon Hall is the CPA I mught recommend. He use to actually live here in DC before moving back to NC. 

@Natalie Kolodij is anothet real estate based CPA as well.

business profile image
District Invest Group
5.0 stars
44 Reviews

Loading replies...