?writing off expense (rent) for staying in own STR

?writing off expense (rent) for staying in own STR

Sheena DrakePro Member
Member since 2020 · 81 posts · 37 votes

If you purchase a STR and inhabit it to do repairs, are you able to write off the "rent" that would otherwise have been collected from guests? I know as a vacation home you are expected to dwell within the resident for at least 14 days of the year, but other stays that might be needed for upkeep might be write off costs? This may have been answered in one of my books but the thought just popped into my head while working. Appreciate all you smart people out there!

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
4y
Quote from @Michael Baum:

Nope. You can't write that off. You can write off the cost of supplies and repairs. Not the actual stay.

And mileage.
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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    4y

    Nope. You can't write that off. You can write off the cost of supplies and repairs. Not the actual stay.

  • Sheena DrakePro Member
    OP
    Member since 2020 · 81 posts · 37 votes
    4y

    well darn.  Thanks for the quick response.

  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Quote from @Michael Baum:

    Nope. You can't write that off. You can write off the cost of supplies and repairs. Not the actual stay.

    And mileage.
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    4y
    Hehe, and mileage. Make sure you get a good CPA. They will know all the BKM's to get your maximum deductions.
  • Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    4y

    You can expense the utilities and tools.

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