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Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks, Master Tax Advisor, Enrolled Agent
Category: Tax
Satisfied Customers: 1257
Experience:  I am a Master Tax Advisor and Enrolled Agent. I have 40 years experience. Trucking specialist.
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Real Estate Taxes on Income Properties

Customer Question

If I purchase an income property in Utah, the same state as my primary residence, are there restrictions to how often me or my family can use the residence for personal reasons?
Submitted: 11 years ago.
Category: Tax
Expert:  Sandi Hargrove, SkyHawks replied 11 years ago.
There is no written restriction to your personal use of the investment property as long as your "intent" for purchase is investment with a profit goal.
Customer: replied 11 years ago.
Reply to Sandi Hargrove, SkyHawks's Post: I do not feel that I received sufficient information. How is "intent" measured? How can you prove your "intent"? I have friends who purchased property in North Carolina and they are only able to vacation there for two weeks out of the year, according to them--and these are some pretty smart people. Where would they get this notion? Thanks. GM
Customer: replied 11 years ago.
I do not feel that I received sufficient information. How is "intent" measured? How can you prove your "intent"? I have friends who purchased property in North Carolina and they are only able to vacation there for two weeks out of the year, according to them--and these are some pretty smart people. Where would they get this notion? Thanks. GM

Edited byCustomeron June 20 2005 at 8:20am

Customer: replied 11 years ago.
I am unable to get my response to your answer posted. I get a message stating that something is wrong with a sbject heading of body without explanation on how to remedy it. At this point, I do NOT accept and do not wish to pay.
Expert:  Maureen replied 11 years ago.
Message from customer:

I would like further explanation as indicated in my reply. That
would help me out. Thanks. GM
Expert:  Sandi Hargrove, SkyHawks replied 11 years ago.

Your friends perhaps are renting the property. If they use the property for personal use more than 10% of the time that it is rented, there are restrictions on the amount of expenses that can be deducted.


IRS has no definition of "intent" other than the use of the word. Intent means that the primary reason for the purchase is to produce a gain at a later date when sold. If you can not clearly state that you do intend to sell the property for a profit AND that this was your reason for the purchase, then the purchase is personal use rather than investment use.


You may benefit from reading Pub 587, Pub 527 and Pub 550 for the different types of treatment that may be possible. These are available at www.irs.gov or you can call IRS at 1-800-829-1040 to request they be sent to you by mail.

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