I am planning to buy & finance a 3 bedroom condo for two sons at the same college. If we rent 1 room out to a student-friend, can the entire condo qualify as investment property with depreciation ?
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rental propery depreciation
Apr 19, 2007
3 Replies
No. It will be a mixed use second home/rental. See IRS Publication 527.
-- Phil Marti Clarksburg, MD
no
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-----> real address on hobokeni or hobokenx
No. Personal use property cannot be depreciated. At least
2/3 of the condo is personal use property.Join the Discussion
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