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Updated almost 7 years ago on . Most recent reply

User Stats

149
Posts
44
Votes
Nicole Wood
  • Investor
  • Bath, NY
44
Votes |
149
Posts

Deductible expenses on a house hack?

Nicole Wood
  • Investor
  • Bath, NY
Posted

Hello all,

Ive recently purchased a duplex and while I know what's deductible for a rental...or has been in the past since the tax reform may have changed all that ( i better study up).....how does this work with a house hack? We live in the downstairs apartment and rent the upstairs...am I able to deduct anything we put into the lower unit or not since we're currently residing there? We will be here one year then will be renting it out. Also, there is a security light out back and we pay for the electricity to the heater in the basement...should this be split in half for deductions? Honestly, with the new tax laws I'm not even sure we will be itemizing but just trying to be prepared with everything.....

thanks

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