Thread: Short term vaction rentals

Tried it once, probably more of a pain than anything else. I gave up on the property being a 2nd home and just turned it into a full time investment property. But you can rent it for up to 12, or is it 15 days tax free!

Two weeks once a year I believe. Why was it such a head ache? Did you manage it yourself or did you use a property manager for finding you renters?

Originally Posted by rentec

But you can rent it for up to 12, or is it 15 days tax free!

?????????????Wwwwwhhhaatttttttttt?????????????

Never in a million years.

The 2 week (10%) rule has to do with keeping the house as an investment property and not a second home. If you personally use the property for more than 10% of the time rented the house will be considered a second home for tax purposes and not an investment property. As an investment property you can write off items not allowed with a second home.

Originally Posted by RedCarpetSchool

Two weeks once a year I believe.

Please check your info before you post info that can hurt somebody.

Originally Posted by Greg

?????????????Wwwwwhhhaatttttttttt?????????????

Never in a million years.

The 2 week (10%) rule has to do with keeping the house as an investment property and not a second home. If you personally use the property for more than 10% of the time rented the house will be considered a second home for tax purposes and not an investment property. As an investment property you can write off items not allowed with a second home.

You are allowed to not report up to 14 days of rental income per year if the home is used as a residence and not as an income property.

This post is not about permanent residences it is about short term vacation rentals. Make up your mind or be more specific.

You prior comment made it sound like you were talking short term vacation rentals.