Mon - Fri : 9:00 AM - 5:00 PM
support@pharrcpa.com
850-435-8844
Month

October 2020

Vacation Home Rules for Losses

//
Posted By
/
Comment0
/
Categories
Generally, if you rent out a vacation home to tenants while you’re not using it personally, you can deduct expenses to offset taxable income from the rental. This includes expenses such as mortgage interest, property taxes, repairs, utilities, insurance, etc. In fact, you may even be able to deduct a loss for the year if expenses exceed income.