If property that qualifies as a taxpayer's residence is rented for less than 15 days per year,the taxpayer includes no rental income in gross income and similarly may claim no expenses related to the property other than interest and taxes.

Question

Quizplus · Accepted Answer

This is true according to the IRS rules regarding short-term rentals of a taxpayer's primary residence. If the property is rented for less than 15 days per year, the taxpayer does not have to report the rental income and can only deduct the interest and property taxes on the rental as itemized deductions.

If Property That Qualifies as a Taxpayer's Residence Is Rented