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Michael J Scanlon
  • Realtor
  • Chicago, IL
152
Votes |
222
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Tax Deductible on a house hack?

Michael J Scanlon
  • Realtor
  • Chicago, IL
Posted Feb 26 2020, 06:24

So I’m a bit confused about what I can and can not deduct in taxes when my rental property is a house hack. I’ve compiled this list with what I’ve found to be deductible and what might be. I am living in one room and renting the other 2. Everything I’ve found online is either “personal residence” or “rental property” so obviously this is a mixed bag and creates some confusion. Thanks!

Tax deductible

PMI

MIP/84 months

Utilities

2/3 depreciation

Property taxes

Mortgage interest

HOA

Insurance

Expenses/repairs

Maybe?

Inspection

Appraisal

Pass through deduction

Attorney fees

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