It's possible that you'll use more than one dwelling unit as a residence during the year. 10% of the total days you rent it to others at a fair rental price.
You're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that’s more than the greater of: If you rent a dwelling unit to others that you also use as a residence, limitations may apply to the rental expenses you can deduct. For information on these limits, refer to Publication 925, Passive Activity and At-Risk Rules. Your rental losses, however, generally will be limited by the "at-risk" rules and/or the passive activity loss rules. If you're renting to make a profit and don't use the dwelling unit as a residence, then your deductible rental expenses may be more than your gross rental income. Tax Return for Seniors and on Schedule E (Form 1040), Supplemental Income and Loss.
Individual Income Tax Return or Form 1040-SR, U.S. You'll generally report such income and expenses on Form 1040, U.S. These expenses, which may include mortgage interest, real estate taxes, casualty losses, maintenance, utilities, insurance, and depreciation, will reduce the amount of rental income that's subject to tax. If you receive rental income for the use of a dwelling unit, such as a house or an apartment, you may deduct certain expenses.
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