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Updated about 2 years ago on . Most recent reply

Daniel Sar's profile image
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Daniel Sar
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Daniel Sar
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Daniel Sar
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4
Posts
General Landlording & Rental Properties

Tax questions regarding rental property

Daniel Sar
Posted

Hello, so I own a 2 unit property, I live in one unit and rent out the other. I bought the property in 2022. We renovated the unit the tenant is living in and spent 35k. I pay the the water bill and pay for the internet for the tenant as well. We also pay a monthly payment because we financed the replacement furnace. Is all this tax deductible? Thanks 

Chicago, Illinois
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Eliott Elias
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Eliott Elias's profile image
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Eliott Elias
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  • from Austin, TX
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Eliott Elias
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  • Austin, TX
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Eliott Elias
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Yes

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