Do I have to claim timeshare income on my taxes?

If we own a timeshare were we own 1 unit for 14 days and 1 unit for 7 days and was unable to go last year so rented them out but Paid maintenance fees do I have to claim income from a timeshare on my taxes?

posted

Yes, per IRS rules this would be considered rental income and reported on Schedule E. However, you can deduct your expenses against the income. The rules

See TurboTaxMichaelDC's answer below for explanation of how the 14 days or fewer rules work in your case.

https://ttlc.intuit.com/replies/5634996

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