I sold my half share of a owner-occupied duplex last year to other co-owner via quit claim. I am reporting the sale & have questions re: business % use changes, quit claim/settlement, and my sales price vs original basis.
Was any rent you received for nonresidential use of your property 20% or less of your rental income during 2023? What if I do not rent just occupy?
Which classification is our rental if it’s a nonowner occupied, long term renter in one unit of an eight unit building? It keeps coming back saying it’s owner occupied.