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Updated almost 7 years ago,
Building and living in ADU to rent the main house
We have just started the process of building an ADU (max 800 sq ft) in the backyard of the property we currently live. I can't find any guidance as far as maximizing tax benefits for either the building of the property as a rental or if we were to live in the ADU and rent the main house (1630 sq ft ish). Maybe I'm just overlooking the threads of renting out a house on the property you live, but would appreciate guidance in pointing me in the right direction.
Just trying to plot the best course of action to maximize all possible tax breaks and/or plan ahead for future renting while living on the property.
Thanks!