Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated about 2 years ago on .
Most recent reply
presented by

Texas homestead exemtion on househack duolex
We just bought a duplex in Gregg county Tx which we will owner occupy for at least first year. We currently have the homestead exemtion on our single family residence that we will convert into a rental. On the form it asks what percentage of the property is income which would be 50% on a duplex but my wife works from home full time. Would this affect how much the exemption is? We bought March 20th which misses the Jan 1st ownership deadline but in further questions it appears we could potentially claim it if the previous own didn't claim it that prior year. Which he didn't. Or does anyone think it would be more beneficial to leave it on the single family the rest of this year until it would expire because of renting it at some point in the future. Thanks in advance!