Updated almost 4 years ago on . Most recent reply
Househacking - Tax Suggestions?
Hi all, I will be buying a duplex and living in one side, and renting out the other to cover the mortgage. What type of tax writeoffs can I utilize if I'm getting a 30-year conventional primary loan? I also plan on renovating both units and possibly rolling the property into an llc down the road. Thanks
Most Popular Reply
@Jack Dephillipo - You'll get the normal rental expenses that are allocated to the unit that is being rented. This includes mortgage interest, insurance, repairs, utilities, depreciation, etc.