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bigq
05-03-2007, 03:20 PM
If you rent as primary residence can you write off takes and interest if you purchase a vacation home?
Now same scenario, but the home you own and don't live in is rented out. Can you still write off interest and taxes?

djunkie
05-03-2007, 03:24 PM
Yes!!!!. I have a house in Havasu and live with my parents. I do get to write it off but I have to claim it the time rented also.

Quest4Fun
05-03-2007, 03:28 PM
If you rent as primary residence can you write off takes and interest if you purchase a vacation home?
Now same scenario, but the home you own and don't live in is rented out. Can you still write off interest and taxes?
Answer #1 - Yes you can write off taxes and interest on the purchase of a vacation home, even if it is not your primary residence.
Answer #2 - The home which you don't live in but is rented out...you can write off the taxes and interest, but you are supposed to claim the rent you are getting as income.

bigq
05-03-2007, 03:29 PM
Yes!!!!. I have a house in Havasu and live with my parents. I do get to write it off but I have to claim it the time rented also.
You rent it out during winter months or year round?

BoneDaddy
05-03-2007, 03:37 PM
Yes.
But, you will need to talk to your tax consultant. CYA:)

sleekcraft80
05-03-2007, 03:38 PM
I have a double lot in Topock (just dirt) and a large lot in Fort Mohave (just dirt). I was able to write off the property taxes on both plus my house in Ca. this year.

djunkie
05-03-2007, 03:44 PM
You rent it out during winter months or year round?
Winter months. We claim it as 4 months rented, 4 months available for rent, and we use it the other 4 months. :D

djunkie
05-03-2007, 03:45 PM
Yes.
But, you will need to talk to your tax consultant. CYA:)
Yes I recommend this too. Mine set it all up for me so it was right. :D

Outnumbered
05-03-2007, 04:11 PM
Yes!!!!. I have a house in Havasu and live with my parents...
At least you have your priorities straight.:D