If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your operating
vacation home Archives - Crawford Ellenbogen
Dec 28, 2022
Nov 5, 2021
Vacation home: How is your tax bill affected if you rent it out?
- By Victor Dozzi
- Taxes
- 0 Comments
If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences? The tax treatment can be complex. It depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by you, your relatives