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previous pagePrevious Page: Sale or Trade of Business, Depreciation, Rentals > Depreciation & Recapture
next pageNext Page:  Sale or Trade of Business, Depreciation, Rentals > Rental Expenses versus Passive Activity Losses (PALs)
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Frequently Asked Tax Questions

Sale or Trade of Business, Depreciation, Rentals - Personal Use of Business Property (Condo, Timeshare, etc.)


Rev. date: 1/2009

I rent my home out for two weeks each year. Do I have to show the income on my return?


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previous topic occurrence Rent next topic occurrence
previous topic occurrence Rental Property next topic occurrence
previous topic occurrence Residential Rental Property (Including Rental of Vacation Homes) next topic occurrence
previous topic occurrence Second Residence next topic occurrence
previous topic occurrence Supplemental Income and Loss next topic occurrence

You must first consider if you use any dwelling as a home.

You are considered to use a dwelling as a home if you use it for personal purposes during the tax year for more than the greater of:
There is a special rule if you use a dwelling as a home and rent it for fewer than 15 days. In this case:
It is possible that you will use more than one dwelling unit as a home during the year. For example, if you live in your main dwelling unit for 11 months and in your vacation home for 30 days, your main dwelling unit is a home and your vacation dwelling unit is also a home unless you rent your vacation dwelling unit to others at a fair rental value for more than 300 days during the year.

Rev. date: 1/2009

I am renting a house to my son and daughter-in-law. Can I claim rental expenses?


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previous topic occurrence Depreciation and Amortization next topic occurrence
previous topic occurrence Rental next topic occurrence
previous topic occurrence Rental Expenses next topic occurrence
previous topic occurrence Rental Property next topic occurrence
previous topic occurrence Residential Rental Property (Including Rental of Vacation Homes) next topic occurrence
previous topic occurrence Second Residence next topic occurrence
previous topic occurrence Supplemental Income and Loss next topic occurrence

In general, if you receive income from the rental of a dwelling unit, such as a house, apartment, or duplex, there are certain expenses you may deduct.
Besides knowing which expenses may be deductible, it is important to understand potential limitations on the amounts of rental expenses that may be deducted in a tax year.
There are several types of limitations that may apply.
Not for profit activities:
Rental of a dwelling unit:
Passive Activity losses:
At risk rules: The at-risk rules limit your losses from most activities to your amount at risk in the activity.
previous pagePrevious Page: Sale or Trade of Business, Depreciation, Rentals > Depreciation & Recapture
next pageNext Page:  Sale or Trade of Business, Depreciation, Rentals > Rental Expenses versus Passive Activity Losses (PALs)
 Use previous pagenext page to find additional instances of index items.