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Updated over 8 years ago,
CPA for One Unit or Do It Myself? Recos for cheap CPA?
So, my wife and I just closed on a 2-flat in Chicago and we'll be house-hacking, so we're only using one of the units currently. I understand that cost basis can be one of the harder things in determining depreciation and I want to make sure I capture it, but with all of the paperwork, I feel like I could probably do this myself, at least until I rent out the second unit or buy another property. Has anyone had experience doing this without a CPA?
If I have to get one, I will, but I'm going to have to keep it as cheap as possible since my income on this single unit isn't going to be huge. On that note, does anyone know of a cheap, reliable CPA (either Chicago or Remote) that won't cost me an arm and a leg for a single unit?