Owner Occupied Multifamily Tax Advice
Hi All,
My wife and I are new investors and are seeking some tax advice. We closed on our first two family house the middle of 2020 and have been rehabbing the rental unit while living in the other unit. Since the rental unit had technically not been ready to rent in 2020, do we treat the entire home as our primary residence when filing our 2020 tax return? And then change to 1/2 primary and 1/2 investment property for our 2021 tax return?