Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago on . Most recent reply

Tax advice please
Background. I'm 23, work in the oilfield. I work rotationaly. 2 weeks on 1 week off. Making about 140k. Primary residence is currently where I rent in nd, I head back home out of state on days off. I recently bought my first property which I renovated and could gross about 27k on. I'm wondering if I should change residency back to home state or will it not matter because I thought you could write off up to 50k on a second home? Also I may just decide to keep the house and heloc to acquire more properties, does it have to be primary house for an interest write off?
Thanks in advance