Want to Get a Deduction for Purchasing a 2nd Home?

You normally don’t get a deduction for the purchase of a 2^nd home that you use for personal purposes.  If you want to change that, then buy the home this year, get it rented out as an AirBNB or VRBO at least 2 times with average customer stays of 7 days or less and spend 100 hours this year dealing with the home.  If you meet these tests, then you normally can deduct 100% of the cost of furnishings and around 25% of the cost of the home this year.  After the year is over, you stop renting it and enjoy it for personal purposes for years.  You have created a large deduction in the year of purchase with no recapture of the deduction until you sell the home many years from now.