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Income Report for August 2022: Podcast Movement, Tipping the Scales, and more!
Entrepreneurs on Fire
Renting Out Your House for Up to 14 Days on Your Personal Residence
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The IRS has carved out said that if you rent your house under or up to 14 days, you don't need to go through the pains of filling out a schedule E. So essentially no income needs to be reported. As long as it's a personal residence, it's fine. The average rent was $500 a day, that's $7,000. You would be able to take a deduction on your business and not have to report that income personally.
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