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General Landlording & Rental Properties

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Su Deng
  • Hewlett, NY
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2 newbie questions for landlords and CPAs

Su Deng
  • Hewlett, NY
Posted Aug 22 2019, 18:23

hey forum, thank you for reading and helping me out, here are my 2 questions.

1. If i am doing a house hack, by living in one room in a house and rent out the other rooms to tenants, can i still deduct deappreciation and repair cost from the house when i do my taxes?

2. When i have a rental property, after i deduct the deappreciation, repair costs, mortgage interest and such all of the income from the property it self is deducted fully, does any extra amount of deduction roll over to deduct any of my W2 income?

thanks