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For a Home to Be Considered a Rental (Nonresidence) Property

Question 91

Multiple Choice

For a home to be considered a rental (nonresidence) property, a taxpayer must:

A) Rent the property for 1 day or more during the year and use the property for personal purposes for no more than the greater of (a) 14 days or (b) 10 percent of
The total days rented.
B) Rent the property for 15 days or more during the year and use the property for personal purposes for no more than the lesser of (a) 14 days or (b) 10 percent of the total days rented.
C) Use the property for personal purposes for no more than the greater of (a) 14 days or (b) 10 percent of the total days rented.
D) Use the property for personal purposes for no more than the lesser of (a) 14 days or (b) 10 percent of the total days rented.
E) Rent the property for 15 days or more during the year.

Correct Answer: