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tax year 2015 Several years ago, Junior acquired a home that he vacationed in part of...

tax year 2015

Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the current year Junior:

  

• Personally stayed in the home for 29 days.

• Rented it to his favorite brother at a discount for 35 days.

• Rented it to his least favorite brother for nine days at the full market rate.

• Rented it to his friend at a discounted rate for thirteen days.

• Rented the home to third parties for 75 days at the market rate.

• Did repair and maintenance work on the home for two days.

• Marketed the property and made it available for rent for 166 days during the year (in addition to the days
  mentioned above).

How many days of personal use and how many days of rental use did Junior experience on the property during the year?
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Answer #1

Solution:

Details Personal Rental
Personally stayed in the home 29 -
Rented it to his favorite brother at a discount 35 -
Rented it to his least favorite brother 9 -
Rented it to his friend at a discounted rate 13 -
Rented the home to third parties - 75
Did repair and maintenance work on the home - 2
Marketed the property and made it available - -
Total 86 77

.

Days of personal use 86
Days of rental use 77
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