vacation for tax purposes?

[tlj721]

What is the name of your state? nj
my condo is in s.c. we rent it short term. my husband says in order for us to get any tax benefit from it that we need to stay there for at least 2 weeks out of the year. is this true.
he also states that if it is not rented that we get that money back on our taxes. is this true. and where can i find out information about this. i plan on buying another condo there and now i am not sure will i have to stay there for 4 weeks a year now?
thanks in advance for your help.

[Snipes5]

Sorry, your husband doesn't have a clue.

If you use the property more than two weeks a year, you can't take a loss on the rental.

You also can't deduct rent you never received, and a deduction doesn't result in a refund anyway.

Do yourselves a favor and see a professional.

Snipes

[tlj721]

Originally Posted by Snipes5

Sorry, your husband doesn't have a clue.

If you use the property more than two weeks a year, you can't take a loss on the rental.

You also can't deduct rent you never received, and a deduction doesn't result in a refund anyway.

Do yourselves a favor and see a professional.

Snipes

if i don't stay in the property for 2 weeks/year can i take a loss on the rental.

he says i have to stay there for 2 weeks a year. what if i stay for 1 week a year what is the difference is this true what he is saying or not.

[abezon]

To claim a rental loss, personal use must be no more than 14 days OR 10% of the days the condo is rented out at fair market value. If the place is rented for 30 days, you can only stay there 3 days.