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Is the personal use less than 10% of the rental days? If so, the limitation does not apply.
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no, the personal use is 47 days and rental is 54 days
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It's been limited every other year when I used Proseries. Just converted to Proconnect this year.
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Is the entire loss being allowed? Or just a portion of it? I think if mortgage interest and real estate taxes exceed income, those are still allowed to trigger a loss.
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Bill,
Does that still apply if the TP does not itemize? I know they made revisions to the 8829 to change how the income limits apply in standard vs. itemized situations for office-in-home. I would think that the same concepts apply to a vacation home when standard deduction is taken.
Rick
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Rick, I was thinking the same thing when I posted it. But I didn't address it because that isn't the OP's problem, the OP has the opposite problem ... it is NOT limiting the loss.