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Updated over 9 years ago,
Owner-Occupied MFH Tax Questions
So I'm looking for a duplex to live in at least for 2-3 years. I've qualified for a 3.5% FHA loan, and have questions about what I can deduct. I own 2 SFHs so I understand the standard deductions. Can I use these standard deductions for the whole duplex property? Do I have to split these in half? Can I put this property, and my others, under a company and write-off not only the rental units but also the unit I live in for doing business?
From a more non-RE Specific place, can a self-employed individual working from home office write off housing expenses? To what extent? BTW I have an appointment with a CPA next week ;)
Thanks
Zach