@Opus 17 wrote:
A "not for profit" rental would be renting to an unrelated person for less than fair market value.
Renting to a relative, specifically a lineal descendant, at below market rate, is a personal use.
Look at §280A(d)(2) [specifically, (C)] and you'll see that unrelated people at less than fair market value is also "personal use" for §280A.
" the taxpayer shall be deemed to have used a dwelling unit for personal purposes ... by any individual ... unless for such day the dwelling unit is rented for a rental which, under the facts and circumstances, is fair rental"
https://www.law.cornell.edu/uscode/text/26/280A#d
Section §280A is about deductions. Except for the tiny tidbit about the 14 day rule in (g), it is discussing whether or not you can deduct expenses, not if it is income.
