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Updated about 4 years ago on . Most recent reply

User Stats

13
Posts
5
Votes
Jonathan Balascsak
  • Rental Property Investor
  • Eastern NC
5
Votes |
13
Posts

House-Hacking taxes for repairs & upgrades (occupied side)

Jonathan Balascsak
  • Rental Property Investor
  • Eastern NC
Posted

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

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