Vacation Rental Property Tax Questions And Answers – IRS Government Publication 527
IRS Government Publication 527
Residential Rental Property – Including Rental of Vacation Homes
For use in preparing your 2008 Vacation Rental Property tax returns
Introductory Material
- What’s New
- Reminder
- Introduction
- Useful Items
Rental Income and Expenses (If No Personal Use of Dwelling)
- Rental Income
- Rental Expenses
Depreciation of Rental Property
- The Basics
- Claiming the Special Depreciation Allowance
- MACRS Depreciation
- Claiming the Correct Amount of Depreciation
Reporting Rental Income, Expenses, and Losses
- Which Forms To Use
- Limits on Rental Losses
- Casualties and Thefts
- Illustrated Example
Special Situations
- Condominiums
- Cooperatives
- Property Changed to Rental Use
- Renting Part of Property
- Not Rented for Profit
- Illustrated Example— Property Changed to Rental Use
Personal Use of Dwelling Unit (Including Vacation Home)
- What Is a Day of Personal Use
- Dwelling Unit Used as a Home
- Figuring Rental Income and Deductions
- Reporting Income and Deductions
- Illustrated Example
How To Get Tax Help
- Low Income Taxpayer Clinics (LITCs)
Great Design.