Asked by GS
Louie owns a duplex. Both units are exactly the same size. Louie resides in one unit and rents the other. In 2024, Louie paid $5,900 in real estate taxes for the whole building. Where are the real estate taxes Louie paid shown on the tax return?
Answers
There are no human answers yet.
Answered by
GPT-5 mini
Because the duplex is half personal use and half rental (units same size), split the $5,900 50/50.
- Rental half ($2,950) — reported on Schedule E (Form 1040) as rental real estate expenses (taxes).
- Personal half ($2,950) — reported on Schedule A as an itemized deduction for real estate/property taxes (unless he takes the standard deduction, in which case it isn’t deductible).
(If occupancy or sizes differed you’d prorate by days or square footage instead of a simple 50/50 split.)
- Rental half ($2,950) — reported on Schedule E (Form 1040) as rental real estate expenses (taxes).
- Personal half ($2,950) — reported on Schedule A as an itemized deduction for real estate/property taxes (unless he takes the standard deduction, in which case it isn’t deductible).
(If occupancy or sizes differed you’d prorate by days or square footage instead of a simple 50/50 split.)
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.