Tax Rules To Know For Renting Out Your Home

Tax Rules To Know For Renting Out Your HomeDo you have a home that you’re using to rent out long term or to vacationers out for a time away from home? There are some important tax rules that you should know to stay on the good side of the IRS…

“The tax implications of renting out your home change dramatically if you decide to do so for longer than 14 days each year. If you only rent out your home for 14 days or less, then the IRS largely treats the enterprise as a nontaxable hobby….” [ Read more here ]