It depends. Assuming this is truly investment property and not personal-use property, then the fair rental days and personal use days should be reported as usual in the Rental Income section.
Pertaining to the 150 days you are asking about:
- Fair rental days can be used for any of the 150 days that were used full-time for repairs and maintenance. See this article for more information: What kinds of rental property expenses can I deduct?
- Otherwise, the rest of the 150 days will be personal use. This may allocate a portion of the related expenses as non-deductible.
A loss may be calculated based on the costs of repairs & maintenance since no income was earned for the year. However, this loss may be limited.
TurboTax summarizes these limitations here:
Rentals are considered passive activities for most owners. There are rules that apply to passive activities that limit the losses you can take on your tax return.
Here are a few reasons why your losses may not be fully deductible:
* You do not actively manage your rental so losses are only allowed if there are profits from other passive activities.
* You do actively manage your rental so $25,000 in losses are allowed if your income is $100,000 or less.
* Your income is over $150,000. None of your real estate loss is allowed.
* Your income is over $100,000 and less than $150,000. Some of your loss is allowed and some of your loss is carried over to the future.
* You are filing Married Filing Separately (MFS) and you live with your spouse during the year. This reduces allowable losses to zero.
* You are filing Married Filing Separately (MFS) and you live apart from your spouse the entire year. Your allowable losses are reduced by 50% to $12,500
See IRS Topic No. 415 Renting Residential and Vacation Property for more details.
