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February 27, 2025
Question

I have a time share. I didn't use it so is rented it. do I have to declare the money from renting it

  • February 27, 2025
  • 1 reply
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I rented my timeshare do I need to claim the money

    1 reply

    February 27, 2025

    You would not have to claim rental income if you rent your home for 14 days or fewer during the year.

     

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

     

    Since you did not meet both rules, the income is taxable.

     

    You would report the rental income on Schedule E Supplemental Income and Loss.

     

    In TurboTax Premium Online, follow these steps to report the rental income.

     

    • Down the left side of the screen, click Federal.
    • Down the left side of the screen, click Wages & Income.
    • Click the down arrow to the right of Rentals, Royalties and Farm.
    • Click to the right of Rental Properties and Royalties (Sch E).
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