Owner Occ Duplex: Accounting

[Don Ireland]

I'm in the final stages of buying my first rental. This will be an owner occupied duplex. Since I can't include expenses for my unit for tax purposes, I'm wondering how I should handle accounting for my unit. Should I pay rent from my personal account to the business account and then let the business account handle ALL transactions related to this property? Should I send the mortgage company HALF of the payment using my business account and the other half using my personal account? I'm assuminh that if I do the latter, then I'd also use my personal account for repairs, maintenance & improvements to my unit as well. Is there some other method?

[Mary M.]

I would reach out to your CPA and see what they suggest since they will be doing your taxes :)