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Investors & landlords
@lisainazle wrote:
we handle all major repairs, pay for maintenance and supplies and the like. We travel there about 12-15 times per year to make improvements and major repairs.
You should be advised that, per Section 280A(d)(2), a day spent on repairs and maintenance is not considered to be a day of personal use.
In connection with the foregoing, if you used the unit for personal purposes during the year for more than the greater of 14 days or 10% of the number of days during the year that the unit was rented at a fair rental, it is not a passive activity.
See https://www.irs.gov/publications/p925#en_US_2022_publink1000104578
March 10, 2023
8:26 AM
2,588 Views