Vacation rental property tax rules affect investors

If you have vacation homes that you also use as vacation rentals, researchers at the Texas A&M Real Estate Center warn that recent developments might affect your taxes.

“A 2014 tax court case highlights how poor recordkeeping and the manner in which days are spent in connection with repairing a vacation rental home may eliminate eligibility to deduct losses,” said Dr. Jerrold Stern.

The Real Estate Center goes into detail on how the new tax rules could affect you on their website.