House Hacking - Tax Write Offs and Strategy

[Blake Sullivan]

Hi all, 

I recently purchased my first home which is a primary residence but I am renting out a room and am reporting that rental income. Would I be able to write off expenses such as furniture, appliances, lawn care etc? Eventually I will move to a different house and this will become a full time rental but am currently living in it and house hacking to make my payment lower each month. 

Thanks for any advice,

Blake Sullivan

[Steve Milford]

It depends, look at the tax code or talk to an accountant.

[Basit Siddiqi]

Yes, you can write off certain expenses.

Some expenses can be written off 100% and some expenses need to be pro-rated.