Blue Gaucho
Returning Member

Real estate purchase

Hello -

 

In February 2019 I purchased a manufactured home. I paid for it in full with money from an inherited IRA. It is a fixer upper and I have been doing the improvements myself and have been using it as a production studio/office space at the same time.

 

Question? - On my tax return should I consider the property as a rental or office space/production studio? 

 

Thank you,

Breck Philip