Timeshare rental income

Forum|Forum|3 years ago
April 10, 2023
1 reply
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I rented my time share and received a 1099K. What can I deduct and what schedule do I use?

mglauner

You don't report any of the rental income you earn from the short-term rental, as long as you:

Rent the property for no more than 14 days during the year AND
Use the vacation house yourself 14 days or more during the year

If this doesn't apply, you can deduct any service fees you paid, which may be reported on your 1099-K, on your Schedule E when reporting Rental Income/Expenses.

Here's more info on Timeshare Rental Income.

@Fay4

Fay4Author

Thank you for your response. I received the 1099K for the rental income that I received. Don't I have to record that on my tax return? I received a 1098 for my interest paid which I normal deduct. I pay an annual management/maintenance fee is that deductable?

RobertB4444

Yes, as @mglauner says you can report your rental income on schedule E. There isn't a requirement to report it if you rent it less than 14 days but you can and you may get questions if you don't. And yes, you should deduct your annual maintenance fees.

@Fay4

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