If you own a second home, you have tax strategies to consider.
For example, the second home can trigger the tax code vacation home rules and the passive loss rules regardless of its location in the city, in the mountains, or at the beach.
And then if you have both rental and personal use of the home, that home will be either a second personal home, or a rental property.
Then, depending on the type of rental, you may have to report the rental on Schedule C (where it’s subject to self-employment taxes), or on Schedule E (where it’s exempt from self-employment taxes.)
The property could be a business lodging facility deductible against your business income.
As you can see, you have much to consider. The good news, you can find answers in Tax Strategies for Vacation and Second Homes.