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Updated almost 5 years ago on . Most recent reply

Paul Wiseman's profile image
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Paul Wiseman
  • New to Real Estate
  • from Oak Ridge, TN
  • Member since Apr 30, 2012
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Paul Wiseman's profile image
Paul Wiseman's profile image
Paul Wiseman
  • New to Real Estate
  • from Oak Ridge, TN
  • Member since Apr 30, 2012
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Paul Wiseman
  • New to Real Estate
  • Oak Ridge, TN
3
Votes |
21
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General Landlording & Rental Properties

Tax Tips for Living in Half a Duplex

Paul Wiseman
  • New to Real Estate
  • Oak Ridge, TN
Posted

Buying my first rental property, a duplex. Gonna live in one of the units. Need some tax tips probably obvious to you but not to me. Also, would I need a separate bank account for the rental income collected? Thanks

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Andrew B.'s profile image
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Andrew B.
  • from Rockaway, New Jersey
  • Member since Nov 15, 2016
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Andrew B.
  • from Rockaway, New Jersey
  • Member since Nov 15, 2016
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Andrew B.
  • Rockaway, NJ
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Andrew B.
  • Rockaway, NJ
Replied

The best tax tip you can ever receive is to find a qualified CPA and work to maximize your deductions in advance. Too many people wait until the tax year has ended to get with a CPA.

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