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Subject:  Re: Vacation home--worth it?? Date:  4/17/2011  9:37 PM
Author:  tsunamied Number:  113191 of 128041

Hi, all. I have just recently been turned on to the amassed talent of fools of this board, and am humbly seeking your advice.

I am looking to find out if buying a 2nd/vacation home is worth it from a tax angle. My wife and I will make a total of $250k this year, and already have a big mortgage($3k/mo.). I have maxxed out my wife's SEP-IRA for the year, and will also max out my Thrift Sav Plan (Fed employee).I am also fully funding my 2 kids college funds($400/mo each). My wife says she is sick of my planning for the future and wants to have fun NOW! We are 40 and 39 yrs old. We are kicking around the idea of spending about $100k or so to buy a chalet/home in ski country. Is this a wise thing to do? And are there tax advantages or disadvantages in doing this? Any info, general or otherwise, would be greatly appreciated.

Hey- did you ever buy a place?
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