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Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences: If you rent it out for less than 15 days: You don’t have to report the income. But expenses associated with the rental...

Summer is the time for family vacations in the sun, sand and fresh air. It’s also a good time to plan for how your vacation home will be used for the second half of the year. Should you rent it out more to generate additional cash flow to help cover the expenses? What are...

Rental income is any payment received for the use or occupation of property. Rental income is generally included in gross income when actually or constructively received. Cash basis taxpayers report income in the year received, regardless of when it was earned. Expenses of...