“The rules and tax-planning strategies for a vacation home are complex if the home is rented,” says Dr. Jerrold Stern, a research fellow at the Real Estate Center at Texas A&M University.
Truly, that’s an understatement.
More and more people are buying vacation homes thanks to growing employment and stock market gains. And as services such as VRBO, Airbnb, and HomeAway become more popular, more and more people are renting out their vacation homes. Find out what you can do to keep the IRS at bay when tax day comes over on SecondShelters.com.