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Level 4
Apr 6, 2023 11:06 PM UTC
Question

time share personal use definition

Would the definition of personal use include available to be used (whether it was or wasn't)

Taxpayer rented it out for 5 days but they, themselves, did not stay there/use it at all last year ....

This topic has been closed for replies.

8 replies

Apr 7, 2023 1:45 AM UTC

If you are referring to entering the rental days and personal days on Schedule E, no.  Only include the days it was actually used.

Level 8
Apr 7, 2023 5:32 AM UTC

If it was rented out during their "personal use time"...then, no it was not used by the taxpayer

linducaAuthor
Level 4
Apr 7, 2023 2:21 PM UTC

I 'm trying to determine whether they had to show the rental income at all.... following the rental time versus personal time...

Apr 7, 2023 3:12 PM UTC

Yes, they need to show the rental income.

The less-than-15-day rule applies if the dwelling unit was used as a "residence" by the taxpayer.  Your client did not use it as a residence, so the rental needs to be reported.

linducaAuthor
Level 4
Apr 7, 2023 4:00 PM UTC

yup... since just owning it didn't count as personal use, I bit the bullet and showed it on Sched E.

Thanks~