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Updated over 5 years ago on . Most recent reply

User Stats

22
Posts
11
Votes
Anthony Del Russo
  • New to Real Estate
  • Philadelphia, PA
11
Votes |
22
Posts

House Hacking Tax Deductions: Nitty Gritty

Anthony Del Russo
  • New to Real Estate
  • Philadelphia, PA
Posted

Hello BP!

I am 3 months into my first SFH house hack (Going Great!) but am now trying to educate myself on further ways to be tax efficient.

I understand how to calculate depreciation allowance on a house hack but was wondering about other deductible expenses, for example:

1. I have internet for my tenants and I, we all split the bill. Is this tax deductible or is it only if I pay the whole bill? Same for gas, electricity?

2. I am just about to stain the fence around the porch. Since this is a common area, are the supplies tax deductible

Is there any general rule of thumb to easily distinguish between what is deductible and what is not?

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