{"id":15,"date":"2013-08-24T19:05:25","date_gmt":"2013-08-24T19:05:25","guid":{"rendered":"http:\/\/www.roecpa.com\/blog\/?p=15"},"modified":"2013-11-16T17:40:15","modified_gmt":"2013-11-16T17:40:15","slug":"renting-out-your-vacation-home-brings-tax-complications-atlanta-ga","status":"publish","type":"post","link":"https:\/\/www.roecpa.com\/blog\/renting-out-your-vacation-home-brings-tax-complications-atlanta-ga\/","title":{"rendered":"Renting out your vacation home brings tax complications, Atlanta GA"},"content":{"rendered":"<table dir=\"LTR\" width=\"470\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td valign=\"TOP\" bgcolor=\"#ffffff\">\n<p dir=\"LTR\" align=\"LEFT\">If you rent out your vacation home for 15 days or more, you must report the income. But exactly what expenses you can deduct depends on whether the home is classified as a rental property for tax purposes, based on the amount of personal vs. rental use. Adjusting your personal use \u2014 or the number of days you rent it out \u2014 might allow the home to be classified in a more beneficial way.<\/p>\n<p>With a rental property, you can deduct rental expenses, including losses, subject to the real estate activity rules. You can\u2019t deduct any interest that\u2019s attributable to your personal use of the home, but you can take the personal portion of property tax as an itemized deduction.<\/p>\n<p>With a nonrental property, you can deduct rental expenses only to the extent of your rental income. Any excess can be carried forward to offset rental income in future years. You also can take an itemized deduction for the personal portion of both mortgage interest and property taxes.<\/p>\n<p>We can help you determine how your vacation home rental will affect your tax bill \u2014 and whether there are steps you can take to reduce the impact.\u00a0 Give me a call at 678-969-0523.\u00a0 Roe CPA, Atlanta, Georgia<\/p>\n<p dir=\"LTR\" align=\"LEFT\">\n<p dir=\"LTR\" align=\"LEFT\">\n<p dir=\"LTR\" align=\"LEFT\">\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>If you rent out your vacation home for 15 days or more, you must report the income. But exactly what expenses you can deduct depends on whether the home is classified as a rental property for tax purposes, based on the amount of personal vs. rental use. Adjusting your personal use \u2014 or the number [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4,3],"tags":[],"class_list":{"0":"post-15","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-accounting","7":"category-tax","8":"entry"},"_links":{"self":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":1,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":16,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions\/16"}],"wp:attachment":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}