Published: October 7, 2024
Governments don’t tax capital gains on people’s homes, but they tax almost everything else about homes and are looking for more
Because the change-in-use rules [among living in a house, long-term leasing, and short-term leasing on Airbnb] are new, ill-defined and untested, homeowners are bound to get trapped in their contradictions, which are “talmudic [fine calculation and brilliant deductive reasoning] in nature,” says accountant and tax lawyer David Rotfleisch.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
