Take Advantage of Any Tax Breaks
In addition to deducting your broker’s commission, there are other tax incentives that work to your benefit. If you use your
home fewer than 15 days a year (or 10 percent of total rental days, whichever is greater), it is considered a rental-only
income property and is eligible for a raft of tax deductions, including utilities, condo fees, housecleaning, and repairs,
according to Mark Luscombe, an analyst with CCH, a tax information service.
Rent this cottage.