A Property Rented for Less Than 15 Days and Used

question 101

True/False

A property rented for less than 15 days and used for personal use the remainder of the year, should have the rental income reported on Schedule E.
This property is considered primarily personal and therefore, none of the rental income is included in gross income.

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Definitions:

Topical Anesthetic

A medication applied to body surfaces to temporarily numb the area, reducing pain or discomfort from procedures or conditions.

Cocaine

A powerful stimulant drug derived from the leaves of the coca plant, often used recreationally for its euphoric effects.

Stimulant

Substances that increase activity in the nervous system, leading to improved mental and/or physical functions temporarily.

Ecstasy

A state of overwhelming joy or rapture, also the common name for MDMA, a psychoactive drug.