Hoping to get some insight into this, fearing I will be hit by a huge tax bill next year.
I have rented out this year for 14 days and was planning to use the 14-day exemption for 2025 taxes.
The situation is that I have recently been approached by a smaller film production to use my house for 5 days for filming, which would mean additional income.
Is income from the use of the property for a film production company the same as a regular rental? Should it be filed differently? Can I keep the rental tax exclusion for under 14 days, or does income from the film company have to be part of this?
How does the IRS view this?
What is your advice?
