Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Homestead Exemption on a Duplex
Hi everyone!
I recently bought a duplex and live in one side while renting out the other. I am filling out my homestead exemption and am wondering how to answer the question, "Is any portion of the property for which you are claiming a residence homestead exemption income producing?"
Do I need to mark down 50% as that is roughly the square footage of the entire home they rent? Or would it be possible for me to write down 20% as that is the sf of the entire property (land) they rent?
Thanks for any advice you can provide!