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2008 March 26 » fliprent
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  • Your second home..Investment or Personal Property

26th March 2008

Your second home..Investment or Personal Property

As a real estate investor you need to be well versed in tax laws.  Well at least if you are not well versed, youde better have a good tax accountant.   Tax deductions are available on your rental properties and also for your house flips.  The tax laws are fairly straight forward when renting property.  Typically maintenance and depreciation are the main deductions.   What about those of you that own second homes for vacation getaways or just another place to go fishing on the weekends?  This is where the tax laws get a little trickier.  The IRS classifies additional homes as either Investment property or Personal property. 

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posted in Real Estate Investing, Renting, Taxes | 0 Comments

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