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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13335
Experience:  15years with H & R Block. Divisional leader, Instructor
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My brother and two sisters own a condo in Florida. We rent

Customer Question

My brother and two sisters own a condo in Florida. We rent it out to the public, How many weeks in a year my the owners use the condo under current tax laws, without being penalize tax wise??
Submitted: 8 months ago.
Category: Tax
Expert:  Robin D. replied 8 months ago.

Hello

You use a dwelling unit as a home during the tax year if you use it for personal purposes more than the greater of:

  1. 14 days, or

  2. 10% of the total days it is rented to others at a fair rental price.

It depends on how many days the condo is rented in a year to others. The owner(s) cannot use it more than 10% of the time.

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Customer: replied 8 months ago.
We form a corp. Is that 2 weeks for each one of us ? 4x2 =8weeks?
Expert:  Robin D. replied 8 months ago.

That is total not each.

Expert:  Robin D. replied 8 months ago.

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