September 19, 2023
Marcum’s Jo Anna Fellon and Loredana Scarlat explain in a Bloomberg Tax article the impact a recent tax court ruling on the Masters rule may have on homeowners
Bloomberg Tax
By Jo Anna M. Fellon, CPA, National Leader – Private Client Services & Loredana Scarlat, Director, Tax & Business Services
Excerpt:
The US Tax Court ruling in Sinopoli v. Commissioner has spotlighted the Masters rule, a tax provision that allows homeowners to exclude income when renting their properties for up to 14 days annually. This rule, which originated from the Augusta National Golf Club’s tournament in Georgia, now faces increased scrutiny in the age of Airbnb Inc. and the proliferation of social media influencers calling it a tax hack.
