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Investors & landlords
@TechieGal wrote:
I agree with your earlier statement that it was not a rental for the 6 months I lived there.
You have a typical, run-of-the mill, plain vanilla, vacation rental with 182 days of personal use during the tax year.
As a result, the expenses you can deduct are limited per Section 280A.
Expenses that are directly allocable to rental use (such as commissions, management fees, advertising, repairs during rental use) are generally deductible in full. However, other expenses (such as property taxes, interest, utilities, insurance) are subject to the limitations.
‎January 25, 2022
8:46 AM