You do not have to be a real estate professional to move short-term rental income out of the passive income category. This allows many families to deduct their short-term rental losses from other income, reducing their taxes. These tax savings and the higher per-day rent received for short-term rentals make these rentals an attractive investment/business opportunity. Learn more at "Airbnb & Short Term Rental Properties" on julianalee.com.
1031 Exchange, Cash Boot Is Taxed
If your replacement property has a lower purchase price than the sales price of the property you sold, the difference will be refunded to you by...