Repairs and upgrades to one side of a duplex

[Jose Botello]

If I purchase a duplex and live in one side and decide to renovate the side I’m living in. Can I write off/ deduct my expenses for the renovation?

I would be doing this to be able to rent it out in the future at a higher rental rate. 

[Ryan Konen]

You can generally only deduct expenses for renovations on rental property, so costs associated with the unit you live in wouldn’t be immediately deductible. However, once you start renting it out, those renovation expenses could be added to your cost basis, potentially lowering capital gains taxes when you sell. Consult a tax professional for personalized guidance to ensure you maximize your deductions.