vacation rentals: 14 Day Rental Rule: Tax Tip for Renting Out Your Vacation Home - 02/10/17 08:06 AM
With any real estate purchase it’s important to understand the tax implications and if you’re thinking of buying a vacation home this season, you should be familiar with the 14 day rental rule.
It’s not unusual for vacation homeowners to rent the property to offset some of the expenses or to generate income, but the tax benefits to which an owner may be entitled depends on the number of days each year that the property is rented out.
One such benefit is called the 14 day rule also known as the “Master’s Exemption” because of it’s popularity in Augusta, GA during the famous … (1 comments)