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Updated about 2 years ago on . Most recent reply

User Stats

16
Posts
18
Votes
Connor Lewis
  • Rental Property Investor
  • Lexington, KY
18
Votes |
16
Posts

Filing Taxes for an owner occupied duplex

Connor Lewis
  • Rental Property Investor
  • Lexington, KY
Posted

Hello BP community! For those who have ever lived in a house hack (duplex) and have filed their own taxes, I would like some advice. 

My question comes down to how I handle deductions like property taxes, mortgage insurance, depreciation, etc. 

I’ve read online that I can only take half of these expenses and deduct them on my schedule E since I live in one half and rent out the other. This logically makes sense, but I want to confirm before I move forward. Could someone please provide some clarification? Thanks!

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