For the latest information about developments related to Pub. 527, such as legislation enacted after it was published, go to IRS.gov/pub527.
Do you own a second house that you rent out all the time? Do you own a vacation home that you rent out when you or your family isn't using it?
These are two common types of residential rental activities discussed in this publication. In most cases, all rental income must be reported on your tax return, but there are differences in the expenses you are allowed to deduct and in the way the rental activity is reported on your return.
Chapter 1 discusses rental-for-profit activity in which there is no personal use of the property. It examines some common types of rental income and when each is reported, as well as some common types of expenses and which are deductible.
Chapter 2 discusses depreciation as it applies to your rental real estate activity what property can be depreciated and how much it can be depreciated.
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