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Updated about 7 years ago on . Most recent reply
New Federal tax bill and the second home market
Greetings BPers, I'm curious to hear opinions from those of you in vacation markets on the effects of the new tax bill on the second home market for 2018. My gut tells me that retail buyers will hesitate and put downward pressure on the sales market. Attached Denver Post Article speculates more inventory will crowd the rental markets as more second home owners convert to rental owners.
https://www.denverpost.com/2017/11/10/wealthy-homebuyers-gaming-gop-tax-plan/
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#1 Short-Term & Vacation Rental Discussions Contributor
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
If your second home vacation rental is on schedule E as I've been told it should be then everything is still deductible as before.
Plus there is the 20% deduction from business income in addition.
I just listened to a Tax attorney on a 2 hour call yesterday and the tax reform is a great thing for real Estate investors.