Discussion:Vacation Home Rules

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Revision as of 07:58, 2 April 2009
GJBoweEA (Talk | contribs)
(Thanks for the r)
← Previous diff		 Revision as of 11:41, 2 April 2009
Dnc0716 (Talk | contribs)
(It wasn't rented)
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Logic says no, but logic & taxes don't always mix well.}} Logic says no, but logic & taxes don't always mix well.}}
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 +{{ForumReplyPost|UserID=Dnc0716|Date=2 April 2009|Text=It wasn't rented for more than 14 days, so don't do anything with it. No deductions or income is required to be reported for "vacation" homes (dwellings units used as a home) rented fewer than 15 days. See pub 527, p.22 for the exception for minimal rental use.}}

Revision as of 11:41, 2 April 2009

Discussion Forum Index --> Advanced Tax Questions --> Vacation Home Rules
Discussion Forum Index --> Tax Questions --> Vacation Home Rules

GJBoweEA (talk|edits) said:

2 April 2009
Here's the scenario:

Taxpayer has a vacation home (Tahoe) that has been solely personal use to date. In 2008, they decided to start using it as a rental and as of Oct 1, the property was prepped to be rented and was listed with a rental agency. There were no renters thru 12/31/08. From 10/1/08 to 12/31/08, the taxpayer used the home for 2 days. For vacation home personal-use rules, do we have to look only at 10/1-12/31, or do I have to be concerned with the entire year?

Sfbcpa (talk|edits) said:

2 April 2009
Look at Publication 527, Property changed to rental use. I believe this will answer your question.

GJBoweEA (talk|edits) said:

2 April 2009
Thanks for the response, but it doesn't address the specific issue. The question is not whether to depreciate it for the whole year or deduct expenses prior to 10/1, but only whether personal use during the period 1/1-9/30 needs to be considered.

Logic says no, but logic & taxes don't always mix well.

Dnc0716 (talk|edits) said:

2 April 2009
It wasn't rented for more than 14 days, so don't do anything with it. No deductions or income is required to be reported for "vacation" homes (dwellings units used as a home) rented fewer than 15 days. See pub 527, p.22 for the exception for minimal rental use.
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