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 ?
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.BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.