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Updated about 9 years ago,

User Stats

50
Posts
8
Votes
Jorge Soto
  • Firefighter
  • Sacramento , CA
8
Votes |
50
Posts

First Investment Property...Tips for tax season

Jorge Soto
  • Firefighter
  • Sacramento , CA
Posted

Hello BP community. I bought my first property in late October. Its a 3 unit in Sacramento California. I have two of them rented and I live in one. My question is what can I write off on my taxes this up coming year? I have made about $5k in repairs to the unit I live in. I have made very little repair to the other two units. Does the fact that I live in one of the unit affect my taxes? I have the property recorded at the county office as a investment property. If that changes anything. I would appreciate any advice or tips from people that have been in a similar situation. Thank you.  

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