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Sep. 27—The rules for short-term rentals are looking at a drastic change—increasing the minimum number of days that a property can be rented without a special permit to 180 from 30—and runs ...
In other words, the loss is treated as a short-term capital loss even if it was originally a long-term capital loss. Section 1231 does not reclassify property as a capital asset. Instead, it allows the taxpayer to treat net gains on 1231 property as capital gains, but to treat net losses on such property as ordinary losses.
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
Residents from Lake Norman complain about renters having parties and leaving trash in the area.
Critics of a New York City law say it acts as a "de facto ban" on short-term rentals. Leaders say the rules are needed amid a housing shortage. New short-term rental rules might make booking ...
Dec. 12—A contentious process to update Santa Fe County's regulations of short-term rentals, such as Airbnbs and Vrbos, will come to a head early next year. County Commissioners on Tuesday voted ...
Depreciation recapture is the USA Internal Revenue Service procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset that had previously provided an offset to ordinary income for the taxpayer through depreciation.
The ordinance that goes into effect Sept. 1 was written with the help of Granicus, a company that provides services and software to enforce short-term rental rules. It will cap short-term rentals ...