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Investors & landlords
You can't deduct any expenses for yourself. You, yourself are renting the property. If you are intent upon the rental aspect, divide the property by square footage and only deduct expenses for the portion that is pure rental. No shared spaces like the living room or kitchen count. You have to include the income on Schedule E. Indicate that you rent out part of your home.
‎June 3, 2019
12:14 PM