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Tax Drill - Rental of Residence Complete the following statements regarding the tax treatment of vacation home rentals. . The rent income is a. If the residence is rented for fewer than 15 days in a year, it is treated as gross income, and mortgage interest and real estate taxes are allowed as b. If the residence is rented for 15 days or in a year and is not used for personal purposes for more than the greater of (1) days or (2) percent of the total days rented, the residence is treated as . The deduction of the expenses allocated to rental days exceed rent income and result in a rental loss. c. If the residence is rented for 15 days or the greater of (1) days or (2) . Expenses in a year and is used for personal purposes for more than percent of the total days rented, it is treated as rent income. Tax Drill - Rental of Residence Complete the following statements regarding the tax treatment of vacation home rentals. . The rent income is a. If the residence is rented for fewer than 15 days in a year, it is treated as gross income, and mortgage interest and real estate taxes are allowed as b. If the residence is rented for 15 days or in a year and is not used for personal purposes for more than the greater of (1) days or (2) percent of the total days rented, the residence is treated as . The deduction of the expenses allocated to rental days exceed rent income and result in a rental loss. c. If the residence is rented for 15 days or the greater of (1) days or (2) . Expenses in a year and is used for personal purposes for more than percent of the total days rented, it is treated as rent income

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