How do I classify a rental in my remodeled basement while I live upstairs? Single family unit or multiple?

The rental is not a separate unit, so there's no property purchase, just a big remodeling expense that we need to amortize.

posted

It would be a single family unit, renting part of your home.

Be sure to consider the date the basement was placed in service as a rental property and do not include any personal use days of the space prior to the date it was placed in service.

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How do I classify a rental in my remodeled basement while I live upstairs? Single family unit or multiple?

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How do I classify a rental in my remodeled basement while I live upstairs? Single family unit or multiple?