Tax Free Rental Income-Do You Qualify?

The IRS provides a video to learn if you qualify for tax free rental income on your vacation home.

As always, you should document your transactions and save all itemized receipts. 

Thorough records help you receive eligible tax deductions and provide proof you are entitled to tax free rental income.

Consider keeping a calendar record to show the days occupied and by whom to easily count the rental days at year end.

Track days when home repairs are made while you occupied the home to possibly deduct travel expenses.

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