time share personal use definition

[linduca]

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 ....

[TaxGuyBill]

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

[taxes96786]

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

[linduca]

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

[TaxGuyBill]

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.

[linduca]

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

Thanks~

[taxes96786]

Does the client do this yearly or was this a one-time thing? If one time line 21 other income may apply

[linduca]

one-time thing...

[taxes96786]

linduca...sounds like line 21 would apply...taxpayer is not engaged in a rental business.