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Investors & landlords
Ok, I got it! Thanks! I have aligned the depreciation with last year's information and it looks correct. I just have one more thing.
The guy that I rented to had access to all of the common areas. He was essentially a roommate. I have seen where I should be able to deduct half of my expenses because of that. I didn't do that last year even though I could have. My questions:
1. Do I have to deduct the same percentage of rental expenses as last year?
2. If the answer to that is no, Can I deduct 50% of my utilities and maintenance expenses and 10% of my mortgage interest and property taxes?
*I deducted 10% of everything last year including depreciation (I was wrong about the 5%).
The guy that I rented to had access to all of the common areas. He was essentially a roommate. I have seen where I should be able to deduct half of my expenses because of that. I didn't do that last year even though I could have. My questions:
1. Do I have to deduct the same percentage of rental expenses as last year?
2. If the answer to that is no, Can I deduct 50% of my utilities and maintenance expenses and 10% of my mortgage interest and property taxes?
*I deducted 10% of everything last year including depreciation (I was wrong about the 5%).
‎June 4, 2019
8:00 PM