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Updated about 5 years ago on . Most recent reply presented by

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9
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Micah Young
  • Rental Property Investor
  • St. Louis, MO
4
Votes |
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House Hacking Taxes

Micah Young
  • Rental Property Investor
  • St. Louis, MO
Posted

Greetings, I have seen questions about house hacking taxes before, but none that have answered this specific question: 

I am filling out the depreciation section of the Schedule E. 

The property is a four family, I live in one. I understand that I cannot claim depreciation on my own unit. My question is, how do I answer the following question?


Enter the number of days the property was rented at fair rental value 

___________________

Enter the number of days the property was used for personal purposes

___________________

We owned the four family for 164 days in 2020, so if we answered the questions literally, I would say 164 for both. However, many people on here have stressed the importance of 15 days.  

Do I just answer 164 for each question of is it something more complicated? Thanks


Most Popular Reply

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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
Replied
Originally posted by @Micah Young:

Greetings, I have seen questions about house hacking taxes before, but none that have answered this specific question: 

I am filling out the depreciation section of the Schedule E. 

The property is a four family, I live in one. I understand that I cannot claim depreciation on my own unit. My question is, how do I answer the following question?


Enter the number of days the property was rented at fair rental value 

___________________

Enter the number of days the property was used for personal purposes

___________________

We owned the four family for 164 days in 2020, so if we answered the questions literally, I would say 164 for both. However, many people on here have stressed the importance of 15 days.  

Do I just answer 164 for each question of is it something more complicated? Thanks


If this is quadplex, you don't have personal use on the units you rented. So just put down the days the other units were rented. 

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