Friends and fans are hurting over the loss of Prince, but his family is heartbroken.. His second ex-wife, Manuela Testolini, is opening up about their relationship. Despite the fact that their marriage didn't last, Prince and Manuela remained very close friends who always kept in touch. Prince and I had a magical journey together and I loved him immensely. The world knew him as a musical genius - I knew him as a husband, friend and fierce philanthropist, Testolini, founder of In a Perfect World Foundation, tells E! News in a statement.
Even if you rent it out for $10,000 a night, you don't have to report the rental income as long as the home was not rented out for more than 14 days. The house is still considered a personal residence, so you can deduct mortgage interest and property taxes under the standard second-home rules. 2. You rent out the property for 15 days or more, and use it for less than 14 days or 10% of days the home was rented.
In order to not be dinged for taxes you need to live in the second home for 2 of the last 5 years of ownership. The property you live in is the primary residence.