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Investors & landlords
The IRS considers any day rented to a relative below FMV as a day of personal use. If you have more than 14 days of personal use, then the IRS no longer considers the property to be rental property, and you lose all deductions except for mortgage interest and property taxes.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎December 9, 2024
7:38 AM