#396 OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions
Main Street Business
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Not a 1031 for a Second Home?
The second home classification has really gone away with the schedule A and- Because you can't write anything, they can't take any interest. To me, a second home is an investment property. As long as you rent it out and have some income on it. No sale of home exemption would sound about right if they had to pay capital gains tax. All I will reserve the comment on not a 1031 for a second home. Let's think about that one.
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