Author Topic: Home office for rental property  (Read 781 times)

Capt j-rod

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Home office for rental property
« on: March 15, 2018, 10:16:33 AM »
I am hoping to include a home office this year for my rental properties. I have 5 units. The tri-plex and two single family homes. I do all of my own repairs and maintenance and have all of the tools and equipment to do so. I have isolated 1/2 of my spare room where I keep my desk, filing cabinets, and receipts/records. I also have built a large shop which I would like to claim a portion of to store my tools, mowers, and equipment that I use on my properties. The reason driving this is that the rentals are my primary occupation as my wife maintains fte with the hospital. Without a home office I am losing quite a bit of mileage and I don't think I can participate in the 179 deductions. The business continues to grow and I will be adding more properties in the future. I have no issues dedicating this space to just rental use. Is this reasonable to claim 100sqft of my 3300 sqft home and 500 sq ft of a 2250sqft shop? Finally my properties generated over $30,000 of gross revenue last year.
« Last Edit: March 15, 2018, 10:24:09 AM by Capt j-rod »