Posted by KJ CA on April 04, 2005 at 22:05:22:
No, you don’t want to fool around with your “principal residence”. You probably declare mtge interest and property taxes on Schedule A for your current residence. The rental property will have a basis for depreciation. If you live in one of the units, you can’t depreciate it. And if you continued to deduct your “home” deductions, that would be fraudulent.
Don’t pretend to live in your investment properties. It would cause you years of headaches.