Ask A Travel Nurse: Renting out the Tax Home?

Ask A Travel NurseGypsy,
Hi! I’m considering going into travel nursing but have a couple things I’m figuring out to see if this would be the best fit.
Would it be considered a tax home if I am renting out my residence while I work as a Travel Nurse in another state?
Thanks for reading. I can’t wait to hear back!!  Sherrie

[quote author=" - Gypsy Nurse, RN"]Sherrie,

Tax Home:  Understanding the tax-home can be very daunting.  I have several articles on this topic and I always recommend if you have questions, contact the expert: TravelTax

According to TravelTax:

Generally you need to have a residence available for personal use in the area of your tax home, once you have rented out your house, it is no longer your residence, but a business property. However, here are a few options if you get the urge to become a landlord.

  • You rent it out, and lease other accommodations somewhere in the same metropolitan area for yourself. This essentially turns your ex-residence into a business venture, regardless of profit or loss.
  • You rent it out, but retain a portion for personal use, NOT just storage. (This could be done in the case of an in-law apt, or renting to friends/family who you know well enough to stay at the house in between assignments.)
  • You rent it out as a vacation rental. This is great for those who live in tourist areas. You are allowed to rent it out completely for part of the year while you go off on assignment. Because the lease is for less than a year, and you are occupying it the rest of the time, it qualifies, and you can still keep your reimbursements tax free.

- See more at: TravelTax.com

I hope that this helps at least a little bit.  I would encourage you to Join in on the Caravan.  Lots of travel nruses there to help answer your questions and lend guidance along the way!!

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I love hearing the opinions of my readers.  Your opinion could be the perfect solution for someone.  Please share your thoughts below in the comments.  Do you have a question for me?  Fill out the Ask A Travel Nurse form and submit your questions.

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TheGypsyNurse

As a travel nursing educator, Candy aka Gypsy Nurse, RN has worked in healthcare for nearly 20 years, working up the ranks from CNA to LPN to RN. For the past nine years, she’s worked as a travel nurse, allowing her to practice and live in 15 states throughout the U.S. She regularly shares advice for those interested in travel nurse jobs on her website at: www.thegypsynurse.com.

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