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What are the tax consequences if I use my home as a rental?

April 26, 2017consequences Home rental tax

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What are the tax consequences if I use my home as a rental?

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The IRS has specific rules regarding what expenses are deductible and how many days a year you can rent your property without having to declare the income. (It is not many!) Please check with your financial advisor as your situation is unique to you and will be different from mine and your friends and neighbors.