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Are there any tax breaks when purchasing a second home or vacation rental?

Tax Breaks Second Home/Vacation Rental
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Tax Professional Answers

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Jeff Johnson
If you consider the deductions for mortgage interest and real estate taxes to be tax breaks, then the answer is yes. You will have to track the number of days rented (or available for rent) vs. the number of days of personal use to determine if the property will be classified as a second home or a rental (investment) property for tax purposes.
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