No, you are not required to report rental income from real estate if the days rented is less than 15 days. This will not flag your tax return for the IRS. Keep the 1099-MISC in your tax file with any documentation showing you did not rent for more days in 2023. You have it if you need it later should there be questions.
- Used as a home but rented less than 15 days. If you use a dwelling unit as a home and you rent it less than 15 days during the year, its primary function isn’t considered to be rental and it shouldn’t be reported on Schedule E (Form 1040). You aren’t required to report the rental income and rental expenses from this activity. Any expenses related to the home, such as mortgage interest, property taxes, and any qualified casualty loss, will be reported as normally allowed on Schedule A (Form 1040).
- IRS Publication 527
You are confused about 'Personal Property' versus 'personal use'. Personal use can occur in either personal property or real property. There is a big difference in tax lingo, see the definition below.
- Personal Property = Any property that is not real property which is real estate - residential or nonresidential. This includes everything that is not real property, examples would be a bicycle, a lawn mower, equipment, etc.
- Real Property - Land, buildings and their structural components.
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