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Article Date:
August 2013


Word Count:
694

 

 

Repair That Vacation Home


How does your vacation home behave for tax purposes?

 

Is it a second home?

 

Is it a tax-favored rental property?

 

Are you taking advantage of the repair-day tax benefit?

 

Rental Property Rule

 

When you use your vacation home for both rental and personal purposes, the law classifies your vacation home as either a personal home or a rental property.1

 

It’s a personal home when you use the vacation home for personal purposes more than the greater of:2

 

·

14 days, or

·

10 percent of the total days you rented ... Log in to view full article.

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