All Forum Posts by: Michael Theo

I have a multi-family property that is 50% owner occupied, 50% rented. If I pay a contractor in cash for a home improvement and ~3 months later open and withdraw an equal amount of cash from a HELOC, is the interest on the HELOC still tax-deductible (both from the business and personal home improvement side)?

Does anyone know how the Prop 19 parent-child exclusion applies to multi-unit properties. My parents and I occupy 2 units in a 4 unit property as our primary residence. If my parents transfer the property to me will the exclusion apply to the entire property or will it be pro-rated (given that 2 units are rented to tenants)?