Christine Hradsky No Comments

Vacation Homes Classified as Rentals See Little Impact from Tax Reform

Vacation home taxes

Vacation home taxes become complicated when the property is used for both personal and rental purposes.

There’s good news if you own a vacation home that you rent out: The Tax Cuts and Jobs Act (TCJA) didn’t have much effect on how your rental income and related expenses are treated under the tax rules. But those rules are still complicated. Here’s what you should know.  Read more

Christine Hradsky No Comments

Reporting Income from Vacation Home Rentals Under Today’s Tax Rules

Vacation Home

Those who own a vacation home for personal and rental use need to know how to report the income and expenses under the new tax law.

Do you own a vacation home that’s rented out but also used for a significant amount of time by you personally? Such properties are subject to tax rules that are different from those that apply to properties rented out with minimal personal use. Here’s how to optimize your tax results in light of several key changes made by the Tax Cuts and Jobs Act (TCJA). Read more