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    #1

    Beach House Rental

    Hey,
    My client bought a beach house as investment. Personal use is limited to less than 14 days. They let the church use it at no charge. They let family use it at no charge.
    My question is this:
    Are the days the church uses it considered personal use days?
    Are the days other family uses it considered personal use days?
    Thanks!
    ~possi
    "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey
    Tags: None
    #2
    According to TTB

    In the TTB deluxe book, page 7-7, it says:

    "Did you know? Use of a dwelling unit by any individual who pays less than fair rental value is considered personal use by the owner; therefore no expenses attributable to that period rental are deductible. Rental income must neverless be reported as income."

    There is further discussion on personal use in the paragraph above this one.

    Hope this helps.

    LT
    Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

    Comment

      #3
      Let there be no doubt

      Church and friend use are personal days.

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