(Taxes) Can I deduct the repairs on both duplex sides?

Question

I have an owner occupied duplex tax strategy that I would like to get advice on:

If I were to live in one side, and renovate the other side, and them move into the renovated side, and renovate the first side, would I be able to deduct the repairs on both sides since they are technically the rental side when I'm renovating them?

Charlotte Fogarty · Answer

Do you have a company name or LLC? If so, put them on the lease to rent an 'office' from you, that might work. Again, talk to a tax person or attny.

Cole Stumbough · Answer

Hey @Charlotte Fogarty

The property is under my name using an FHA loan. So I would move from one side to the other as the owner, while renovating the vacant sides.

Charlotte Fogarty · Answer

I think, (but you might run it by a RE tax attny) if the property is owned by an LLC and you pay rent to the LLC during the whole thing, it would be a rental on both sides and the entire thing can be deducted. Also, you have an 'office' in this home? If so, that space can be deducted as home office and updates to it can be taken off taxes. Not advise, just my personal opinion.

(Taxes) Can I deduct the repairs on both duplex sides?

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