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Updated about 2 years ago on . Most recent reply

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4
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Eric Buss
6
Votes |
4
Posts

Need to Learn About House Hacking Taxes

Eric Buss
Posted

Hi everyone! I got into house hacking without knowing it was a thing. My property has 2 studio ohanas (in-law units) that are almost covering mortgage and other expenses. I include utilities in the rent (rental units aren't metered separately). Garage is used for shared storage. Laundry room is also shared between me and the 2 tenants.

Filing taxes has very quickly become more complicated and I'm hoping to get some recommendations of resources to learn more. I will be using a CPA to file taxes, but also want to learn about it. Looking for info on how much can I write off in depreciation, how much of the bills for shared service (gas/water/electric/tv/internet) I can write off, can I write off my home office, how much of my cell phone bill can I write off, etc. 

Any resources to learn more about the topic would be much appreciated. Thanks in advance!

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