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Updated over 5 years ago, 07/25/2019
A few complicated tax questions! CPA's please help!
My situation: I was living in my own home for more than half of 2016, and I recently bought a duplex. I am now living in 1/2 of my duplex, while renting out my old home and the other half of my duplex. I usually use turbo tax, and I'm usually very good at figuring things out as I use Turbo tax. But I would like some answers before I actually have to start figuring things out :)
My questions are
1) Can I depreciate %100 of my duplex if I live in 1 side?
2) Between the time when I rented out my home and when I actually got to move into my duplex, (2 months I had to wait because I had to give the old tenants time to move out) I was basically forced to live with my in-laws. I had to rent a storage unit for my tools and materials to do repairs, and I had to pay someone to use their shop to actually work on things (for my business: repairs, maintainance things. etc...) Do I get to write off the storage unit and shop usage charges for my business? Even though the shop usage was with a friend?
3) Since I lived in my house for 5 years before renting it, Do I still have to pay capital gains or "recapture" taxes when I sell it? Is there a certain amount of years that one must live there to be "exempt" from those taxes? Same with my duplex if I live there?
4) Also I would like to take my home office deduction while I lived at my house and duplex too... Can I take my home office deduction for part of the year while I lived at my house and part of the year I lived at my duplex? This seems kind of complicated to do, but hopefully not.
5) last question: If i buy something.. for example Ice melt for my duplex, Do I get to write off the whole thing or just %50 since I live there too?
Thanks to anyone who can help answer these questions!