If you own vacation rental property and rent it out for more than 15 days per year, then you will need to report the rental income on your tax return. If your vacation rental property is also used as a personal residence, then your rental expense deduction will be limited to the amount of rent you received. Rental property income and expenses are reported on Schedule E of your tax return. Personal deductions such as mortgage interest and property taxes are reported on Schedule A. If you personally use your rental property and also rent it out, then you will
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