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When rental property is classified as a vacation home, depreciation and other expenses can be deducted only to the extent of the net rental income from the property (minus the allocable portion of mortgage interest and real estate taxes). Essentially, depreciation and rent-related expenses cannot be used to generate a net loss from a vacation home.
When rental property is classified as a vacation home, depreciation and other expenses can be deducted only to the extent of the net rental income from the property (minus the allocable portion of mortgage interest and real estate taxes). Essentially, depreciation and rent-related expenses cannot be used to generate a net loss from a vacation home.
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klj102471
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nutbrain
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birddogtb
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Anonymous
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