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216. How Does Personal Use Impact Your Ability to Use the STR Loophole & Other Tax Deductions?

Tax Smart Real Estate Investors Podcast

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The IRS's Personal Use Limitations

The IRC says that if you have the basically the legal right to use the property, then that is considered. It doesn't matter if you've actually physically stayed or occupied the property exactly. There's tax avoidance, which is one thing that's using the code to avoid tax legally, right? That's real estate professional status. And then there's tax evasion. I am evading tax through illicit means and this is tax evasion. So be really, really careful. You got to push that FOMO down when you start feeling it bubble up.

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