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Updated almost 4 years ago on . Most recent reply
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Tax write-offs when house hacking
I was wondering about the exact tax implications that there are when house hacking a single family home. I’ve read that you can either go by the amount of rooms rented vs rooms you occupy or by square footage of the home vs square footage of the space you occupy. Using this info to determine the percentage of the home that is occupied by you and what percentage is occupied by the tenant(s). But from there I didn’t know exactly what would go on your schedule E and schedule A for tax write-offs. So I would like to ask the people of bigger pockets what exactly is possible to write-off when house hacking a Single family home. (let’s say there are 5 bedrooms and 4 of them are rented out to tenants)