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deduction for rental property

i am renting my home with 7 acres of land and my shop used for my trucks is also on this property. i pay 950.00 a month for the rent on all of this. is there any way i can deduct any of this on my taxes since my shop is also on this property?

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It would be cut and dry if you and your landlord had separate rents for the garage/shop and home. I might try to apply the principles of "business use of home" rules (publication 587) to your entire rental, which is, off the cuff, to divide up the "personal use portion" vs. the "business use" portion and then deduct the appropriate percentage. I would do this only if you can justify your math! =)

-- Victor


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If you use an accountant, ask them. If you do your own taxes, deduct as high a percentage as you feel comfortable. (Ex. 50%) even up to 100%. If the IRS questions it (which is unlikely) just amend your tax return to a lower amount and refile. I've been in business for 25+ years and have been in that scenario several times. The IRS is a lot more forgiving than people think.

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alan will be eternally grateful.
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