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magulley2005
New Member

My condo was available for rent for 61 days, actually rented for 34 of those days, and used as personal residence for the other 304 days. What's my % used for business?

 
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CherylW
Level 3

My condo was available for rent for 61 days, actually rented for 34 of those days, and used as personal residence for the other 304 days. What's my % used for business?

IRS' Publication 527, Residential Rental Property says:

• Any day that the unit is available for rent but not actually rented isn’t a day of rental use. 

In your case, it was only rented for 34 days, and personal use is 331 days.  The percentage is 34/365 = 9.3% for rental, and  90.7% for personal.

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CherylW
Level 3

My condo was available for rent for 61 days, actually rented for 34 of those days, and used as personal residence for the other 304 days. What's my % used for business?

IRS' Publication 527, Residential Rental Property says:

• Any day that the unit is available for rent but not actually rented isn’t a day of rental use. 

In your case, it was only rented for 34 days, and personal use is 331 days.  The percentage is 34/365 = 9.3% for rental, and  90.7% for personal.

View solution in original post

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