alligatorob
Member
What is the name of your state? Florida
Tax time is coming and as I was dragging out my paper work an idea came to me. I own a large beach house which I rent out by the week. It makes a very good paper (and real) loss. Problem is my wife and I have started to earn over $150k so we have to suspend the losses.
Or so we thought. Our home is considered Public Lodging in Florida, and we have to have it licensed as a Resort Dwelling under the Florida 509 Public Lodging Statute. Is there any reason we can’t just treat this like a hotel or motel on our taxes. A weekly rental to transient tourists sure operates a lot more like a hotel or motel than it does a rental property.
Any thoughts would be appreciated.
Thanks,
Alligatorob
Tax time is coming and as I was dragging out my paper work an idea came to me. I own a large beach house which I rent out by the week. It makes a very good paper (and real) loss. Problem is my wife and I have started to earn over $150k so we have to suspend the losses.
Or so we thought. Our home is considered Public Lodging in Florida, and we have to have it licensed as a Resort Dwelling under the Florida 509 Public Lodging Statute. Is there any reason we can’t just treat this like a hotel or motel on our taxes. A weekly rental to transient tourists sure operates a lot more like a hotel or motel than it does a rental property.
Any thoughts would be appreciated.
Thanks,
Alligatorob