Tax write-offs for personal and rental properties

[Yongjian Pan]

Tax write-offs such as depreciation, mortgage interest, property taxes, and operation expenses...etc apply to both rental properties (property for rent) and personal properties (home for personal living) right?

[Natalie Kolodij]

Originally posted by @Yongjian Pan:

So even if rental properties owned by landlords are considered business assets? How do you define business assets?

It doesn't matter if you also own rentals. Of if your LLC with rentals also owns your personal home (which is a bad idea for a slew of other reasons)

Your primary home where you live if it's not a rental is any way is your primary home. Period. 

A business/rental asset is one which is used to generate profit. Not your personal use.