All Forum Posts by: Perrin Hickey

Hello Perrin! Typically for a house hack of any kind you are able to claim depreciation on the percent of the home that you do not occupy. It is done differently in different states I believe but in Virginia where I live you can do either percent of square footage or the fraction of bedrooms you do not occupy divided by total bedrooms. I hope this is helpful!

thank you for this. I’m in Upstate NY, so will investigate further into state specific regulations.
As far as Deductions go, I’m assuming a portion of the utilities and property taxes are able to be deducted? And if so, is that dependent on occupancy?

Thank you in advance for your time!

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@Grant Shipman thank you for that info! Estes is beautiful and I’m encouraged by your experience.

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Hi all! Newbie here and appreciate all of your expertise in this community. We are looking to rent (either STR or MTR) the lower level of our house. I will discuss this with our CPA as well, but wanted your input on tax advantages of this strategy. Is it based on occupancy v square footage of the home v other parameters? Thank you!

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@Michael Baum. thank you. I appreciate all of this. Those were my (novice) thoughts as well being a condo v SFH. I'll reach out as you suggested

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Hi all! Newbie here….Wondering about the pros/cons for cost segregation. Purchasing our first STR, a 2/2 ski condo for over 400k. We got hammered in taxes last year due to our W2 income, so looking for ways to offset. Being our first setup, and being late fall, I have 100+ hours in material participation, which I assume will benefit us as well. Thank you for any and all insight!

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All Forum Posts by: Perrin Hickey

Perrin Hickey has started 3 posts and replied 6 times.

Post: Recommendations for a REI CPA

Post: STR house hack tax advantages

Post: STR house hack tax advantages

Post: STR house hack tax advantages

Post: Cost segregation pros/cons on condo?

Post: Cost segregation pros/cons on condo?