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Updated almost 4 years ago,
House-Hacking taxes for repairs & upgrades (occupied side)
Hey Y'all!
Situation: owner occcupied house hacked duplex we live on 1 side a tenant on the other.
As I wait for my consult date with a CPA, I am getting my Stessa in order. A lot of repairs and upgrades were done to the side that I am currently occupying. (new LVP, ceiling fans, electric, stainless appliances ETC.) We will most likely be moving out of the property this year and renting out the remodeled side. Can I deduct those expenses next year so they are deductible? All the repairs were done to prepare the property for tenants on both sides.
Thanks in advance :)
-Jonathan