Susan rents part of her personal residence in the summer for 10 days for $1,000.Anne rents all of her personal residence for 3 weeks in December for $2,500.Anne must include the $2,500 in her gross income whereas Susan is not required to include the $1,000 in her gross income.

Question

Quizplus · Accepted Answer

According to IRS rules, if you rent out your personal residence for less than 15 days in a year, the rental income is not taxable. Susan rented for 10 days, so her income is not taxable. Anne rented for 21 days, so her income is taxable.

Susan Rents Part of Her Personal Residence in the Summer