Vacation Home Tax Introduction
According to the Internal Revenue Service, a vacation home permanently places. This includes a lake home, condo, mobile home, RV, house trailer or a yacht. The home has to offer sleeping, cooking and toilet facilities. It is not required to be fancy, or the location does not have to be in a vacation community. The main thing is it is a structure, land by itself does not count. This paper will discuss the tax information that can be used when filing an annual tax return .
As long as the vacation home meets requirements, the interest on the mortgage can ...
