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All Forum Posts by: Brad Jones

Brad Jones has started 1 posts and replied 3 times.

Originally posted by @Christina Hennessy:

@John Underwood how does using it 14 days or less help maximize tax deductions? I own a condo in Old Town Key West 

Christina, I believe he is referring to IRS treatment in relation to rental property expenses. If you are 14 days or greater than 10% of total rental days for personal use it may impact your ability to deduct rental expenses.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Our initial goal would be to generate income from the property. It would be treated as a rental for tax purposes. Our goal would be to optimized rental days, specifically in an area or with a permit allowing for rental periods less than 28 days.

Hello,

My wife and I are planning to get into real estate investing with a vacation property in the Florida Keys, specifically Key Largo and Tavernier. We love vacationing there, but have since wanted to consider it as a target market for investment. We are just beginning the research phase and would appreciate any insight or direction.