Comments on: Taxes – the forms aren’t hard, it’s tracking your expenses http://www.iboughtaduplex.com/buying-a-duplex/taxes-the-forms-arent-hard-its-tracking-your-expenses.php "Are you sure you can handle managing something like that?" Well, there's one sure way to find out... Sat, 28 Jan 2012 23:22:11 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: landlady http://www.iboughtaduplex.com/buying-a-duplex/taxes-the-forms-arent-hard-its-tracking-your-expenses.php/comment-page-1#comment-89708 landlady Sat, 12 Feb 2011 18:11:40 +0000 http://www.iboughtaduplex.com/buying-a-duplex/taxes-the-forms-arent-hard-its-tracking-your-expenses.php#comment-89708 If you're not living in either side of the duplex, it's no longer owner occupied and you're putting expenses for the entire rental property (i.e. both units) on your schedule E. If it's an evenly split duplex and you're living in half of it as your primary residence, you'd be entering expenses specifically related to the rental unit, as well as half of whole-property expenses (mortgage interest, property taxes, etc.) If you’re not living in either side of the duplex, it’s no longer owner occupied and you’re putting expenses for the entire rental property (i.e. both units) on your schedule E. If it’s an evenly split duplex and you’re living in half of it as your primary residence, you’d be entering expenses specifically related to the rental unit, as well as half of whole-property expenses (mortgage interest, property taxes, etc.)

]]> By: Steve http://www.iboughtaduplex.com/buying-a-duplex/taxes-the-forms-arent-hard-its-tracking-your-expenses.php/comment-page-1#comment-89707 Steve Sat, 12 Feb 2011 16:20:56 +0000 http://www.iboughtaduplex.com/buying-a-duplex/taxes-the-forms-arent-hard-its-tracking-your-expenses.php#comment-89707 Does this mean that when you start entering stuff into Schedule E your duplex consumes just one column or two? It seems to be such a hassle to divide everything in two - like property taxes and mortgage expense. Never lived in either side, can't sell one side without the other. On the other hand, most expenses are directly related to one side or the other. Wonder if most people lump the two sides together or split them on the Schedule E? Does this mean that when you start entering stuff into Schedule E your duplex consumes just one column or two? It seems to be such a hassle to divide everything in two – like property taxes and mortgage expense. Never lived in either side, can’t sell one side without the other.

On the other hand, most expenses are directly related to one side or the other.

Wonder if most people lump the two sides together or split them on the Schedule E?

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