Jorge owns a home that he rents for 360 days and uses for personal purposes for five days. Jorge is not required to allocate expenses associated with the home between rental and personal use.

Question

Quizplus · Accepted Answer

Since Jorge used the home for personal purposes for more than the greater of 14 days or 10% of the days it was rented (which is 36 days), he must allocate expenses between rental and personal use according to IRS rules for mixed-use property.

Jorge Owns a Home That He Rents for 360 Days