@Opus 17 wrote:
It is not personal use if an owner rents below FMV to an unrelated person.......I believe I would still be correct in the situation where the tenant was unrelated to the owner, based on the quoted regulatory language.
I quoted the relevant section in an earlier post:
I.R.C. §280A(d)(2)(C):
(2) For purposes of this section, the taxpayer shall be deemed to have used a dwelling unit for personal purposes for a day if, for any part of such day, the unit is used—
(C) by any individual......, unless for such day the dwelling unit is rented for a rental which, under the facts and circumstances, is fair rental.
Note that there is no mention of the tenant being related to the owner.
