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DON`T COUNT ON your vacation home to provide tax-free income in the future.
Before Congress adjourned, lawmakers approved tax legislation that included a provision abolishing the tax exemption for homes rented out fewer than 15 days a year.
President Bush vetoed the bill. But a similar package may be resurrected in the next Congress.
Under current law, owners who rent out their personal residence less than 15 days a year don`t have to pay tax on the rental income.
The measure passed by Congress would have made all rental income subject to tax in most cases.
