If a residence is rented for 15 days or more and is used for personal purposes for not more than 14 days or 10 percent of the days rented, whichever is greater, no allocation of expenses is required and the taxpayer may claim a deduction for the full amount of the expenses.

Question

Quizplus · Accepted Answer

The taxpayer must allocate expenses between rental and personal use when a residence is rented for more than 14 days in a year, regardless of the personal use days, and can only deduct expenses up to the amount of rental income received, not the full amount of the expenses.

If a Residence Is Rented for 15 Days or More