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Updated over 5 years ago on .
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Vacation Rental Tax Question
Two Questions...
1. We are building a vacation rental in Montana. Cost of the build is about $550k. Not including the land costs. If we’ve spent $300k on the build in the 2019 calendar year, will we deduct that entire $300k (bonus depreciation) as a passive loss?
2. If we take our family (total of 5), to stay in our vacation rental house (the one we are building), can I have the LLC buy these plane tickets and therefore deduct them as a business expense?
Thank you all in advance,