Tax Time for a House Hacker

[Matt Holt]

Hello fellow house hackers! My wife and I had a couple of friends rent out the extra two bedrooms we have in our three bedroom house. Now that tax time is rolling around we are a little stumped on how to handle writing off expenses. I have been told to use the square footage of the bedrooms but they use more than just the bedrooms, obviously. I am curious if that is my only viable option or if I can use a percentage of the shared space as well.

Thanks,

Matt

[Michael Plaks]

@Matt Holt

Read this introduction by @Brandon Hall, CPA:

https://www.biggerpockets.com/renewsblog/2016/02/21/tax-implications-house-hacking/