Explain what is considered personal use of a rental property.
What will be an ideal response?
Personal use of a dwelling is any use by:
| • | The taxpayer, any member of the taxpayer's family, or any other person with an |
| • | Any individual who uses the unit under an arrangement that enables the taxpayer to |
| • | Any individual unless for such day the dwelling unit is rented for its fair rental value. |
If a taxpayer lets anyone, family or non-family, use the rental property free of a rental charge, those days are considered personal use days by the taxpayer, unless the taxpayer was performing repairs on the property. If any family member uses the rental property (whether or not he/she pays fair rental value) the days are considered personal use days.
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Which itemis optional in a set of instructions?
a. Discussion of the steps b. Introduction c. Visuals d. Warnings and special notes