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Updated about 5 years ago on . Most recent reply

Rob Wilcox's profile image
Rob Wilcox's profile image
Rob Wilcox
  • from Atlanta, Georgia
  • Member since May 2, 2017
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Rob Wilcox's profile image
Rob Wilcox's profile image
Rob Wilcox
  • from Atlanta, Georgia
  • Member since May 2, 2017
Connect
Rob Wilcox
  • Atlanta, GA
12
Votes |
63
Posts
Tax, SDIRAs & Cost Segregation

Vacation Rental Tax Question

Rob Wilcox
  • Atlanta, GA
Posted

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,

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