Vacation home rental?

Matt owns a vacation house at the lake. He uses it nearly every weekend, but he occasionally rents it out when he cannot get away for the weekend. At what point must Matt report this rental income on his tax return?


1. If he rents the vacation house 15 days or more in a year


2. He must report the income if the number of days he rents the property exceeds 10% of the number of days he personally uses it


3. He must always report all of the rental income received


4. He must report the income unless he rents the vacation house at less than fair market valueVacation home rental?
go to http://www.irs.gov





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