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Folks,

wanted to see if anyone had some thoughts on rental income and deduction questions as they relate to tax returns.

Situation is – we have a 2 family building which has three floors, the top one we rent out.

1) Is it correct to deduct 1/3 of utility costs ? GAS / Electricity and water

2) Understand that some repairs are deductible. We have had the hallways replastered which covers the main entrance and up the stairs, plus tenents hallway. I’d think that would be 100% deduction and not 1/3 deduction as it’s all in tenants area.

3) Lead water main replaced. We weren’t clear how or if we should split the % of this repair but do believe it could be a deduction.

Appreciate anyones’ advice on the above.

Also – can Brownstoner.com add spell check please !