How to figure tax savings?

Tips and Deals Forums Buying Your Home How to figure tax savings?

This topic contains 0 replies, has 1 voice, and was last updated by  mary summers 6 years, 9 months ago.

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    mary summers

    Can someone explain if there is a fairly simple way to figure out the tax savings we’d get from purchasing a vacation/rental property?* Details:
    We rent a home now.*
    We’d be buying a home in the same state but an hour away.* Cost would be $400k.
    From what I remember it matters if you rent it out more than a certain amount of days.*
    Let me know if other info is needed.* Thanks for the help.* We’re trying to figure out the pros and cons on our pocket book.

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