Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Posted: 3/10/2017 9:06:34 PM EDT
I saw this

"If you have a vacation home that’s mostly reserved for personal use but rented out for up to 14 days a year, you won’t have to pay taxes on the rental income. Some expenses are deductible, though the personal use of the home limits deductions."

So, if I rent someone's vacay home for 14 days because I brought clients, team building, etc, they don't pay income taxes and I can write it off as a biz expense?
Link Posted: 3/10/2017 9:32:44 PM EDT
[#1]
Of course you can write it off.
Why do you care how they file their taxes?
Are you planning on renting your own home to yourself?
Link Posted: 3/10/2017 10:52:47 PM EDT
[#2]
Sounds like bullshit to me.  Income is income, be it more or less than 14 days.
Link Posted: 3/13/2017 1:15:14 PM EDT
[#3]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Sounds like bullshit to me.  Income is income, be it more or less than 14 days.
View Quote


Is it bullshit because you don't agree with it, or because you think the OP is incorrect in his understanding of the law?

OP is correct.  Rental income on 14 days or less is tax free.

Guess how many people in Augusta take two weeks off during the Master's, rent their home out for big bucks, and enjoy all that tax-free income?
Link Posted: 3/13/2017 3:14:53 PM EDT
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Is it bullshit because you don't agree with it, or because you think the OP is incorrect in his understanding of the law?

OP is correct.  Rental income on 14 days or less is tax free.

Guess how many people in Augusta take two weeks off during the Master's, rent their home out for big bucks, and enjoy all that tax-free income?
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Sounds like bullshit to me.  Income is income, be it more or less than 14 days.


Is it bullshit because you don't agree with it, or because you think the OP is incorrect in his understanding of the law?

OP is correct.  Rental income on 14 days or less is tax free.

Guess how many people in Augusta take two weeks off during the Master's, rent their home out for big bucks, and enjoy all that tax-free income?


Sweet.
Link Posted: 3/21/2017 4:26:22 AM EDT
[#5]
https://www.irs.gov/taxtopics/tc415.html

Here you go!
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top