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Updated about 2 years ago on . Most recent reply

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5
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5
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John Smith
5
Votes |
5
Posts

How to do Taxes for a Househack Duplex?

John Smith
Posted

Hey team, dumb question: Where should I start looking for tax breaks as  someone doing a house hack via a duplex? I have my 1098 from my mortgage company, and kept receipts from some big repairs, but I also recall we're able to write off depreciation? Or maybe I'm over complicating it? Since it's my primary residence and not solely an investment property  than I can just think of it like that? Thanks in advance!

Most Popular Reply

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25
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20
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Fredy Sandoval
  • Investor
  • Long Island, NY
20
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25
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Fredy Sandoval
  • Investor
  • Long Island, NY
Replied

The deductions have to be proportional to the amount of the property utilized for a rental.Generally speaking, since fifty percent of the square footage of this building is utilized as a rental property, you can write off fifty percent of tax-deductible expenses. Having said that, a CPA would know a lot more than me and can give you personalized advice.

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