$24.95 
Learn more
Submitted By: someone
Answered: March 25, 2020 2:47 am
Answered: March 25, 2020 2:47 am
Instead of using my one-week time share, I rented it out. How do I report the rental income?
If you use a dwelling unit as a residence and rent it for fewer than 15 days during the year, you don’t report any of the rental income; it’s tax free. But you can’t deduct any expenses as rental expenses.
advertisement
Featured Books
Tax Glossary
Disaster losses
Casualty losses such as from a storm, in areas declared by the President to warrant federal assistance. An election may be made to deduct the loss in the year before the loss or the year of the loss.
