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And your deductions are limited to your income, and nobody I know makes money on these things anyway (even the honest folks), so it's kind of academic.

Doesn't "vacation rental" need a little fleshing out before we know whether such limits apply? If it's a second home occasionally rented out to others, yes. If it's a property in a vacation area held solely for renting out and never used personally, it's like any other rental real estate.

Rule Your Retirement Home Foo
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