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Updated over 5 years ago on . Most recent reply
Deducting Items on an owner occupy Duplex
Hi Everyone,
I am looking for some guidance. I finally bought a duplex after listening to biggerpockets for a few months. I am only 23 years old so this is very exciting. I am a bit of a handyman and have a business degree. I understand with an owner occupy duplex you can deduct half of all shared utilities, expenses, interest and insurace.
Now i am in need of some construction tools and wanted to know if i could write off the full portion. Since it will be benefiting the whole building. Normally it would be half correct?
Just need some help with the deductions i can do for the owner occupy unit which is schedule A, and the rental which is schedule E.
Would like to include handyman tools, lawnmoyer at full price into the Schedule E deduction.
Most Popular Reply
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Yes, go ahead and deduct the tools. they are needed for your rental. the fact that you are house hacking is irrelevant, besides you will be moving soon.