Okay, so lets check out if that left over 46% can be claimed as a SCH A itemized deduction. First things first though.
I manage my investment property from my primary residence and therefore my primary residence needs to be maintained in order to serve as an office space...)
Be aware that a home office for "residential" rental property is not allowed. But maybe you have other "commercial" property that you rent out? Or maybe a SCH C business you own?
I *am* using some of the "extra" 46% to do repairs/upgrades on my primary residence.
You "may" have some qualifying things then. In the words of the IRS, did you use any of that cash out money to "buy, build, or substantially improve" your primary residence?
