TP lives in the State of Washington. Rents an apartment.
Bought a home in CA, which is his vacation home when he visits his parents. The CA property is the only home he owns. He rents an apartment in WA, but I just said that.
Paid points.
Points for a second home can only be amortized.
Base on these facts, is the home in CA treated as his first home or second home?
I know he wouldn't qualify for the Section 121 exemption when he sells the CA residence. I'm just asking about the deduction of the points.
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Second home.
His first home is his rented apt.
Thank you!
Always a pleasure hearing from you.
(The weather has been all over me.... .
my way of saying I have been under the weather.)
Great minds think alike. That's why I'm working my fanny off to come up with the funds. I'm just $999,765 short. Perhaps I'll just bill my next client by that amount.
I'm having a decent year so I have a little extra cash to help you out. Where would you like my check for $1.23 mailed to?
I'm actually 999,875.51 off. Send $1.51 to @sjrcpa . I was going to buy her lunch. $1.51 should do it.
That's a little more than what I had budgeted. Let me take another look at my numbers and see if I can cover that.
Should we be using the phrase "under the weather" when there might be readers in Tampa who see it?
I hear they are going to fly in Venezuelan refugees to help rebuild the place.
It's not necessary, Bob, and thanks for the sensitive thought. It's fine to say "under the weather", as the other description has been upgraded to "under the climate change", though I've been advocating for "under the galactic warming".
But then, if you disagree, my "the weather is all over me" would have a special ring to it.
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