Carl,
Thank you for this string. It is very helpful.
I have a 2nd home we are making into a short term rental later this year. I have quite a few questions related to expenses incurred last year (can it be capital) and this year (start up, maintenance, deductible, etc.), but I will get to that later.
We've owned since April 15th 2020. We plan to post it on Airbnb with rental starting Sept 1 2021.
First I thought the personal verses rental days were based on actual occupancy not total available (might be specific to short term rentals like I have). Can you confirm? Say it was available 100 days, rented 50, personal 20. I heard personal would be 20/70 (20+50) not 20/100.
I also read maintenance days are considered vacant and not part of the calculation. Is that correct?
And lastly, does my occupied days calculation begin Sept 1 or at the start of the year? Say we have 20 personal days prior to Sept 1 and 20 days after Sept 1, and it is rented by guests 20 days. Would the days I put into the software be 20 days business use and 20 days personal or 20 days business and 40 personal?
