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Posted by James Lewis on May 25, 2007, 10:51 pm
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> Client bought a 3 bedroom house for college bound child. 2
> rooms will be rented out. Client put enough down on house
> so that the rent from the other 2 will cover the note. The
> 3 inhabitants will split all utility costs. Can client
> deduct 100% of costs or does he have to split it between
> personal and rental expenses?
He can only deduct the 2/3rds of expenses/depreciation/etc
that is being rented out.
Mike
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