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Bruce A
Lv 6
Bruce A asked in Business & FinanceRenting & Real Estate · 8 years ago

Is this a single family or multi-family house?

I own a two story house, the upper story (with a separate entrance from the street above) is rented.

I live in the basement.

As far as Schedule E is concerned, is this a single family or multi-family?

Thanks

4 Answers

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  • bridal connection
    Lv 5
    8 years ago
    Favorite Answer

    I believe this would be a single family residence with a basement. It depends on the actual legal description that is on the Title. Please check your Title with paperwork you should have been given when you bought your home or you can call your local Title company and they will be glad to help you. I would not gamble when it comes to taxes.......

    Source(s): 16 yrs real estate Escrow & Title Jr. Loan Processor
  • vorhies
    Lv 4
    4 years ago

    Zoning rules - many times specify no rely if single or multi relatives instruments are allowed in a given component of city. Utilities - separate charges for gasoline, water, electric powered, cable, and telephone provider are oftentimes complicated after the domicile has been set up with single meters or a single account. hearth rules - would require a front and returned door for each relatives?

  • AJ
    Lv 7
    8 years ago

    So who lives on the main floor. and as far as schedule E is concerned, this is a multi family residence.

    Source(s): Landlord
  • LILL
    Lv 7
    8 years ago

    What are you zoned as?

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