Schedule E - Vacation Home Not Subject to Passive Activity Loss Rules
A vacation home property won’t be considered passive and won’t be entered on Form 8582 Passive Activity Loss Limitations.
Per IRS Publication 925Passive Activity and At-Risk Rules, page 5, vacation home properties are one of the exceptions to the passive activity rules:
Activities That Aren't Passive Activities
3. The rental of a dwelling unit that you also used for personal purposes during the year for more than the greater of 14 days or 10% of the number of days during the year that the home was rented at a fair rental.
CAUTION!You shouldn't enter these activities on Form 8582. Instead enter them on the forms or schedules you would normally use.
Was this helpful to you?
Your request has been submitted
You have been successfully added to the TaxAct Do Not Sell list.