I saw a few other posts with this question, but none since the big tax changes recently.
I have a 3 bedroom 2.5 bath in Virginia. I am going to be renting out one or two of the other bedrooms and sharing all common areas.
What can I expect to deduct? Can adding a bathroom or bedroom be deducted or just things like proportional utilities that I pay, taxes, and depreciation?
Thanks in advance for any and all help!
If the bathroom or bedroom build-out would be just used by the tenants, it can potentially all be written off.
House-hacking is a more complex area from a tax perspective because you have a piece of real estate that is part personal residence and part investment property.
@Basit Siddiqi Thank you for the info!