Question: Elena owns a duplex with two equally sized units. She resides in one, and rents the other. She files as single and itemizes. In 2
Elena owns a duplex with two equally sized units. She resides in one, and rents the other. She files as single and itemizes. In she paid $ in real estate taxes for the entie duplex, $ in state and local income taxes, and $ in personal property taxes. To achieve the most favorable tax outcome, how should Elena's real estate taxes be reported on her return?
Half the amount paid, $ should be deducted on Schedule C and the rest on Schedule A
Half the amount paid, $ should be deducted on Schedule E and the rest on Schedule A
The enire amount paid, $ should be deducted on Schdule A
The entire amount paid, $ should be deducted on Schedule E
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