I rent out 1 week of the 2 weeks i own a timeshare do i report the income? And if I report it, do I deduct the maintenance for that week?

[MichaelDC]

The IRS says that if you rent out your house for 14 days or fewer during the year, you don't have to report the rental income on your tax return. 

However, that rule would treat your timeshare as a vacation home only if you personally use it for at least 15 days during the year in addition to the days it is rented.

If you don't meet both 15-day rules, the income is taxable. This means that you must own a timeshare a minimum of three weeks at a single resort, with at least 15 days used personally.

This will be reported in TurboTax as Rental Income on Schedule E. Deductions allowed include annual maintenance fee, advertising, rental commission, depreciation, property taxes (if you pay them separately from the maintenance fees) and interest on your timeshare.

[mahealanig]

What if you own 6 weeks and rent out 4?

[katmford]

I know this is an old post, but which version of TurboTax do I need to do this? I don't have an official 1099, but I need to claim the income. Will Deluxe work?

[DaveF1006]

For this type of return, you will need to upgrade to Turbo Tax premier version.

[AmeliesUncle]

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@MichaelDC wrote:

However, that rule would treat your timeshare as a vacation home only if you personally use it for at least 15 days during the year in addition to the days it is rented.

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I realized this is an old post, but that statement is incorrect.

In order for the 14-days-or-less rental to be tax-free, the personal use of the residence must be the GREATER of 14 days or 10% of the rental period.  So if was rented for 7 days, the minimum personal use days would need to be 70 days.