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.