What Can You Write Off in Taxes as an Owner Occupying a Duplex?

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If you're the owner occupying a duplex, there are a few key tax incentives that you're not going to want to forget about. Find out what you can write off in taxes when you're the owner and are occupying a duplex with help from a managing broker with Windermere Real Estate in this free video clip.

Part of the Video Series: Real Estate Questions
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Video Transcript

Hello, Jim Jacobsen, Windermere Real Estate, managing broker here in Seattle, Washington. The question comes up today is what are the tax consequences with a duplex of which the client owns the duplex and lives in half and rents the other half out. I would like to first say that that truly is a question for your CPA or your tax preparer but I'll give you my interpretation and that is this, that I'm going to be able to write off the interest on the entire loan regardless of its owner occupied or not owner occupied but for the owner occupied side other than the taxes that you are paying and the interest, that's about it but on the side that's being rented, it becomes an investment piece of real estate and we'd be able to be taxed accordingly so that you are going to be able to write off income against loss, maybe some improvements that you make to that property, capitalization things but again, that really is a question for your CPA and they are definitely taxed separately.


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