This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
Tax implications of cottage ownership and use
The article outlines how capital losses from a cottage are treated under tax law. Personal use properties usually cannot claim losses, while rental or income producing use can allow some relief. Changing use triggers a deemed sale, and selling to children at below market value creates double taxation. Selling at full value with a note back can avoid this. Renting part time to offset costs may invite loss denial if expenses exceed income.
MENTIONED IN THIS ARTICLE
Erty