The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Depreciating vacation rental||Date: 3/1/2013 10:45 AM|
|Author: Wradical||Number: 117915 of 121095|
Trying to figure out the "useful life" of a vacation rental building (essentially a house).
This says residential rental is 27.5 years. But is that where a vacation rental would land?
Yes. But first comes the interest and taxes, which you get anyway, then the other expenses, and deprecation, which is a mixed benefit at best, since it lowers your basis. And your deductions are limited to your income, and nobody I know makes money on these things anyway (even the honest folks), so it's kind of academic.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|