About Publication 527, Residential Rental Property addresses your situation and has worksheets to determine allowable loss. Begin with page 28 which states:
Used as a home and rented 15 days or more. If you use a dwelling unit as a home and rent it 15 days or more
during the year, include all your rental income in your income. Because you used the dwelling unit for personal purposes, you must divide your expenses between the rental use and the personal use, as described earlier in this chapter under Dividing Expenses. The expenses for personal use aren’t deductible as rental expenses.
If you had a net profit from renting the dwelling unit for the year (that is, if your rental income is more than the total
of your rental expenses, including depreciation), deduct all of your rental expenses. You don’t need to use Worksheet 5-1.
However, if you had a net loss from renting the dwelling unit for the year, your deduction for certain rental expenses is limited. To figure your deductible rental expenses and any carryover to next year, use Worksheet 5-1.
Reference: Topic no. 415, Renting residential and vacation property
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