Do you rent out a vacation home that your family uses from time to time? Read this before filing your taxes

Do you rent out a vacation home that your family uses from time to time? Read this before filing your taxes
·8 min read

This column summarizes the federal income tax treatment of vacation homes that might be rented out some to third parties during the year, but are still classified as personal residences under the tax rules. If you vacation property falls into that category, here’s what you need to know about the tax implications. If you own a vacation property that you don’t rent out at all during the year, it’s treated as a personal residence for federal income tax purposes.

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