Report Abuse

Re: rental income from timeshare

I own three timeshare weeks at the same resort in which I rent one week & use two for personal use. Is this considered a "vacation home" tax which will allow the income to be excluded because two weeks were used as personal use? I understand you would have to use 15 days as personal use during the year but I'm unsure about the number of days. I check in on a Sunday & leave on a Sunday so if I go for two weeks, would all of the time add up to 15 days? If so, where would I show I own three weeks on Schedule E & use two for personal use? If not considered a "vacation home" tax, then I would enter income plus maintenance fee on timeshare rented on Schedule E. Is that right?