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ericchetwynd
New Member

Do I need to file a Maine state return for a rental property in Maine for which we earned $850 for six days rent though expenses exceeded that rental income for 2017?

 
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DanielV01
Expert Alumni

Do I need to file a Maine state return for a rental property in Maine for which we earned $850 for six days rent though expenses exceeded that rental income for 2017?

No, you will not need to.  There's two reasons why.  First, you mention that the net rental (when factoring in expenses), was a loss.  You would not need to file a return if your only income in the state is negative income.  However, in this case, there is a second reason why you wouldn't report the income:  you mention the rental was for 6 days.  Most of the time, you do not need to report rentals of this length at all if you are the owner of the residence and did reside in it for at least 15 days of the year.  Please click on this link for an IRS website which explains this further:  Topic No. 415 Renting Residential and Vacation Property | Internal ...

If your rental property falls into those rules, you will not claim rental income nor rental expenses.  If not, then you may claim the rental and offsetting expenses (down to zero, but loss is disallowed for these types of rentals).  Either way, you will not be required to file a Maine return if this is your only Maine income and you are a nonresident of Maine.

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DanielV01
Expert Alumni

Do I need to file a Maine state return for a rental property in Maine for which we earned $850 for six days rent though expenses exceeded that rental income for 2017?

No, you will not need to.  There's two reasons why.  First, you mention that the net rental (when factoring in expenses), was a loss.  You would not need to file a return if your only income in the state is negative income.  However, in this case, there is a second reason why you wouldn't report the income:  you mention the rental was for 6 days.  Most of the time, you do not need to report rentals of this length at all if you are the owner of the residence and did reside in it for at least 15 days of the year.  Please click on this link for an IRS website which explains this further:  Topic No. 415 Renting Residential and Vacation Property | Internal ...

If your rental property falls into those rules, you will not claim rental income nor rental expenses.  If not, then you may claim the rental and offsetting expenses (down to zero, but loss is disallowed for these types of rentals).  Either way, you will not be required to file a Maine return if this is your only Maine income and you are a nonresident of Maine.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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