Is My Owner Occupied Duplex Exempt?

[drewmpls]

I live in one unit of a two unit duplex. Can I exempt the whole thing?
If I converted the duplex into one home, it would unquestionably be exempt.
My state has a pretty big homestead exemption. Your thoughts would be appreciated. If it matters for local tax purposes I get the lower homestead tax rate rather than a commericial/rental property tax rate. If it's an issue can I use the federal wild card exemption for the other unit? The property does not have much equity. Thank you.

[justbroke]

It would depend on how "homestead" is defined in your State.

In Florida, for example, a duplex is (usually) protected when it is outside a city/municipality but not protected inside a city/municipality. While there have been Florida cases which negate what I just typed, the majority has been what I wrote.

You would need to check your State specific definitions. Even if you did, it may require a lawyer to "interpret" it for you. I'd look for cases in your District addressing this issue.