Income & Expenses When House Hacking
When house hacking, my understanding is that an LLC or business entity isn't possible, which makes perfect sense. Of course, you're still making money off of the other unit(s).
- Just want to confirm that you report that income at tax time and that's it, right?
- My other question is: Do the repairs and expenses associated with the other unit(s) in the property count as tax breaks even though there is no business entity?