PERSONAL DWELLING RENTED OUT 90 DAYS OF THE YEAR

[IBSHERR]

I have a client who bought a personal residence that is used for the summer season as a rental. I figured out the % of deductions allowed.  the money they collected was 7500.00. actual expenses were 11500. I believe I read you can deduct up to the money received. True?  There is no depreciation as is it not considered a rental property, but a personal dwelling.  I'm thinking like a air b & b?  Where would I report the income and expenses without calling it a rental, but a personal dwelling used for seasonal rental activity.  

[sjrcpa]

It's a vacation rental under IRC Section 280A. Enter as a rental property in Lacerte. Answer the questions about personal use days, etc. Lacerte will do the calculations.

No depreciation is not accurate, although it probably won't be allowed.