TITLE

CHAPTER 15: Vacation Homes

AUTHOR(S)
Fishman, Stephen
PUB. DATE
January 2012
SOURCE
Every Landlord's Tax Deduction Guide (9781413316414);1/1/2012, p355
SOURCE TYPE
Book
DOC. TYPE
Article
ABSTRACT
The article focuses on what tax deductions can be taken for a vacation or second home. It tackles the tax implications for a vacation or second home categorized as a regular rental property, tax-free vacation home, vacation home used as rental property and vacation home used as residence. It tackles the sets of tax rules that may prevent a landowner from deducting expenses from a vacation home used as a rental.
ACCESSION #
71350355

 

Related Articles

  • CHAPTER 15: Vacation Homes.  // Every Landlord's Tax Deduction Guide (9781413312775);2010, p361 

    The article focuses on tax deduction for vacation homes used as a rental property. It says that the U.S. Congress mandates the prohibition of tax deduction for operating expenses and depreciation costs at the time the vacation home is used as personal residence. It mentions that all rental...

  • VACATION HOMES REVISITED: BOLTON MISTAKENLY UNBOLTS DOOR TO EXTRA DEDUCTIONS. Lang, Michael B. // Tax Lawyer;Winter84, Vol. 37 Issue 2, p323 

    Focuses on the implication of the judicial ruling on Bolton v. Commissioner on deductions for expenses on vacation homes in the United States. Need to specify extent of personal use in disallowance of gross income deductions; Question on the allocation of interest of rental use; Formula for...

  • Owning a Vacation Home. Davidson, Michael M.; Murphy, Dennis M. // Business Forum;Summer82, Vol. 7 Issue 3, p31 

    Discusses tax deduction rules relating to vacation home expenses in the U.S. Application of the rules enacted in 1976; Illustrative example.

  • Tax Notes. Voorhees, Theodore // American Bar Association Journal;Sep77, Vol. 63 Issue 9, p1302 

    Examines provisions of the 1976 Tax Reform Act pertaining to income tax deductions for vacation homes in the United States. Definition of vacation homes; Gross income limitation; Allocable percentage limitation; Extent to which personal use of vacation homes would result in disallowance of...

  • When Is a Vacation Home a Rental Home? Reviewing the Alternative Methods of Reporting "Vacation" Home Rental Expenses and the Potential Difference in Tax Savings. Raible, Dennis G.; Teti, Robert; Brinker Jr., Thomas M. // Journal of Financial Service Professionals;Sep2014, Vol. 68 Issue 5, p9 

    We look at the tax rules and the options they present for people who own vacation homes.

  • Vacation home tax deductible tied to personal/rental occupancy.  // Hudson Valley Business Journal;3/6/95 - 3/13/95, Vol. 6 Issue 22, Focus Magazine p13 

    Provides information on vacation home tax deductibles. Tax benefits dependent on whether home is for personal or rental use; Rules by the US Internal Revenue Service (IRS) on tax deductibles; Factors that determine amount of tax deduction.

  • Getting More Out of a Vacation House. Feldman, Amy // Money;Sep2004, Vol. 33 Issue 9, p49 

    This article presents tax advice on owning a vacation home. One of the big attractions of owning a vacation home--apart, of course, from being able to enjoy your own place at the beach, lake or mountains--is the ability to make money renting the place out. The tax rules on vacation homes,...

  • CHAPTER 15: Vacation Homes. Fishman, Stephen // Every Landlord's Tax Deduction Guide;Nov2013, p347 

    The article offers information on the rules for vacation home tax. It mentions that the U.S. Congress has determined that vacation homes should not be permitted to deduct depreciation costs and operating expenses for the time used by vacation homeowners as a second home as a personal residence....

  • Secure deductions for short-term rental properties.  // Tax Strategist;Nov2010, Vol. 5 Issue 11, p6 

    The article focuses on the issue of securing deductions for short-term rental properties in the U.S. It states that clients should know the length of rental periods so they can benefit from the exception of short-term rental properties. It suggests that taxpayers should materially participate in...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics