Time Logs for STR Loophole

[Shane Bishop]

What are the most effective methods for keeping time logs of the work we're putting into our short term rental property for the purposes of qualifying for the STR Tax Loophole? Does the IRS only accept certain methods of time-keeping? Are there apps that we can utilize or do we need a more formal software such as REPSLog?

[Aaron Zimmerman]

For the time log, there's no one way to do it .

I'd follow Jason's instructions above with setting up the time log. I also have a checklist for STR that I think would be helpful. Would you like me to send that over?

There are a lot of factors with STR loophole so I'd recommend connecting with someone well versed in the STR loophole.