Blog Post


If you rent a home to others, you usually must report the rental income on your tax return. However, you may not have to report the rent you get if the rental period is short and you use the property as your home. If the property is used as a home and you rent it out fewer than 15 days per year, you do not have to report the rental income. In this case you can deduct your qualified expenses on Schedule A. In most cases, you can deduct your rental expenses. If the property is used as a home, the rental expense deduction is limited; that is, it can’t be more than the rent you received. Rental income may also be subject to Net Investment Income Tax.

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