What percentage of real estate taxes should be deducted on Schedule A?
Posted by admin on 4 Dec 2008 5:15 am. Filed under Other - Taxes.
John U
“A vacation home is rented out for 10 days during the year and used personally by the owner for 20 days during the year. What percentage of real estate taxes should be
“A vacation home is rented out for 10 days during the year and used personally by the owner for 20 days during the year. What percentage of real estate taxes should be
deducted on Schedule A?”
Wouldn’t it just be 100%?
On December 6th, 2008 at 11:45 pm
Since it was rented out for less than 14 days or 10% of the time that it was owned during the year, whichever is less, 100% of the real estate taxes go on Schedule A.