Utilizing the 14-Day Rule for Short-Term Rentals: Tax Benefits for Homeowners

[Wayne A. Scully]

Hey fellow BiggerPockets members!

Have you heard of the "Augusta Rule" or the 14-day rule when it comes to renting out a portion of your primary residence? This tax provision allows homeowners to rent out their space for up to 14 days per year without reporting the income or paying taxes on it! 💸

This can be a great opportunity for homeowners to host meetings, events, or short-term rentals without the burden of additional taxes. Just remember, it's important to keep track of those days and ensure you're within the 14-day limit. 📆

Have any of you taken advantage of this rule? Share your experiences and questions below! Let's discuss how to make the most of this tax benefit. 💬