A second home was purchased from a related person at fair market in 2005. In Nov 2005, steps were taken to sell the second home, such as signing a listing contract with a real estate agent. The home was not rented during 2005. The home is currently unsold, but listed for sale. Is the home a qualified second home for purposes of deducting interest and property taxes in 2005? The question relates to IRS Pub 936 which contains the following: "Second home not rented out. If you have a second home that you do not hold out for rent or resale to others at any time during the year, you can treat it as a qualified home. You do not have to use the home during the year." Does signing a listing contract result in "hold out for ... resale to others"? Does having 15 or more personal use days change anything? Sorry for late breaking Q.
scott s.