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Updated almost 14 years ago, 03/07/2011
Repairs expense on personal dwelling of rental property - Sch E
I occupy 1/2 of my rental property, and rent out the other half. I spent $20K on repairs/supplies/materials & $20K in labor on my personal residence of the rental property.
I only plan on living here for 5 years, then renting out the whole property Can I deduct any of this on my 2010 tax return? or is all this lost money since it was spent on my personal residence.