rental income from timeshare

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Original Message:

rental income from timeshare (by Robert B.):

While I'm not a CPA, accountant, or a tax professional I treat my timeshare as a second home. As long as I follow the IRS guidelines for rental use (typically I rent 20 days or less annually and use the timeshare for personal use an average of 30 days or more) I enter the rental and rental expenses on Schedule E. I use tax preparation software which then calculates what percentage of the gross timeshare expenses (Mortgage interest, taxes, etc) get applied to the Schedule A and what gets applied to the Schedule E.