Updated over 1 year ago on . Most recent reply

CPA to help with first STR
We want to invest in a second home near lake Tahoe to use as a family vacation home. To offset expenses, we want to rent it out as STR. We want to take advantage of Cost Segregation and Accelerated Depreciation in 2024 and file losses under schedule C during the first year. This all requires some in depth knowledge of tax law. What is the best way to find a CPA who will be interested in taking an active role in something like this?
Thanks in advance.
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- Accountant
- New York, NY
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A couple of things
1) If it is a secondary home, there are potential restrictions from a tax perspective if you live in the house for more than 14 days.
2) losses may potentially be reported on schedule E instead of Schedule C.
- Basit Siddiqi
- [email protected]
- 917-280-8544
