I rent out my basement apartment with utilities included. It is my principle residence, and I live upstairs. The apartment is 50% of the square footage of my home, therefore I am claiming 50% of certain expenses (mortgage interest, utilities, property tax, home insurance) as rental expenses.
I added approximately $1000 worth of insulation in the attic of the home to reduce heat loss, and I replaced the hot water tank (that both units avail of). Can I claim a portion of either of these as a rental expenses? Thanks to anyone who can help.
