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Updated about 5 years ago on . Most recent reply

User Stats

35
Posts
4
Votes
Sean Rogers
  • Investor
  • Overland Park, KS
4
Votes |
35
Posts

How to account for a duplex on tax return

Sean Rogers
  • Investor
  • Overland Park, KS
Posted

I have a friend that bought a duplex. He lives in one room. He rents the other two rooms on one side to his friends and has the other side rented out. He is saying that he can not take any portion of his house and start depreciate it? Same with the interest? I also told him he should be able to count the repairs as a business expense if done to the rooms he doesn’t live in or the common area? Any one have the answer

Most Popular Reply

User Stats

4,876
Posts
2,466
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
2,466
Votes |
4,876
Posts
Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

In Kansas? No. I only know one person in Kansas and that's you. And we don't even know each other, @Sean Rogers. That said, @Natalie Kolodij is tops. Not sure if she works with clients in all states, but at the very least perhaps she could point you in the direction of a local accountant.

You're right about the standard deduction. This being a house-hack is where it gets complicated and why we rely on pros like Natalie.

  • Jaysen Medhurst
  • Loading replies...