BUZ LIVINGSTON: Spring break, tax season and March Madness

Published: Thursday, March 27, 2014 at 05:05 PM.

To deduct rental losses you have to meet the IRS definition of a real estate professional. Generally speaking, you have to spend 750 hours annually materially participating in real property and rentals. Plus more than half of personal services annually must be in real property and rental real estate. Vacation homes, depending on rental history, may have to allocate expenses between personal and rental use. 

  Buz Livingston, CFP has a Blue Mountain Beach based fee-only, hourly financial planning and investment management firm. For more information, visit www.livingstonfinancial.net or visit the office at 2050 Scenic 30A, M1-Unit 230, Redfish Village .






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