Reporting Vacation Rental Income

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If you earn income from renting a vacation property, then you will need to report the following on your taxes:

• Income earned from renting houses, apartments, condos, mobile homes, boats, etc. needs to be reported
• Schedule E is normally used to report rental income and certain rental expenses
• Expenses claimed from a property used as a vacation home and personal residence must be divided between personal and rental use (personal use is considered more than 14 days or 10% of the total days the property is rented)
• Income is not required to be reported for a property that is used as a personal home but is rented for fewer than 15 days/year

Sources + Forms
Schedule E (Form 1040), Supplemental Income and Loss – IRS.gov