What Is the Augusta Rule? | |
The Augusta Rule, formally known as IRS Section 280A(g), originated from a unique situation in Augusta, Georgia. Homeowners in Augusta would rent out their homes to attendees of the annual Masters golf tournament, and in response, Congress passed legislation allowing homeowners to rent their properties for up to 14 days per year without having to report the income. This rule has since expanded to allow all homeowners in the U.S. to take advantage of this tax-saving opportunity. If you rent your home for 14 days or fewer in a year, the income generated from that rental period is not subject to federal income taxes, provided you meet certain requirements. | |
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| Target State: All States Target City : arizona Last Update : Jan 06, 2025 7:02 AM Number of Views: 14 | Item Owner : TheAugustaRule Contact Email: Contact Phone: (None) |
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