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Updated 11 months ago,
First Tax season House Hack
Long time lurker first time poster!
I will be filing this season for the first time being a home owner and house hacker.
I would like to work with a tax professional who has experience with this strategy.
Tell me why I should cancel my meeting with H&R Block this weekend...
For context, I have a W-2 income and have had 3 tenants stay in my home within the past year.
I have lots of questions: Do I save %20 of the rental income for tax purposes? Can I write off the supplies I purchased for the tenants? Can I write off a percentage of my mortgage relative to the size of the rooms rented? etc.
Tax advantaged accounts include: 401-k and Roth IRA contributions, no HSA.
Looking for a professional with proven success, references to others perhaps bigger pockets members who have successful househack strategies.
Thanks!
Any questions?