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Updated almost 8 years ago,
Possible Tax Benefits for House Hack?
So I just had an offer accepted today on a 2 bedroom 2 bath SFH. I have a friend who is going to be renting out the second bedroom from me. I know when you live in one half of the duplex and rent the other you're able to take half of all maintenance expenses as deductions as well as half the interest expense and so on. Is the same able to be done even if the unit is a SFH? My hope is that I can still take half of all these deductions on my tax return for next year as well has deduct half of the depreciation expense incurred from the rental income to offset my taxable income. Is anyone aware if this is possible and legal?