Vacation home rental and income taxes?

And you're asking what about it?

If you rent the home out, you gotta pay tax on the income.
If you rent a second home out for 14 days or less in a year you don't have to report it.
http://www.irs.gov/pub/irs-pdf/p527.pdf...
If you use the vacation home as your "personal dwelling unit" (stay there in IRS language) few than 15 days (14 days or less) you may treat the vacation home expenses as you would any other rental. If you stay at your "vacation home / rental 15 days or more you may only deduct expenses up to the amount of income you collected. In either case you must report any income. You than may take available and authorized deduction deductions from that gross income on a Schedule E.
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http://datentryworksworkathomeobs.blogsp...

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