If your property qualifies as a “residence,” you face the strictest limits of the vacation home rules. Your property is a “residence” if you use the rental property for personal use for more than the greater of
- 14 days in the year or
- 10 percent of the days during the year in which you rent the unit at a fair rental price.
The good news is that we have a tax reduction technique that was approved by the Tax Court, as well as by the Courts of Appeal in the Ninth and Tenth Circuits, that could apply to your vacation home.
Do you have questions about your rental property? Contact us and make an appointment today!