lawgator
Pixie Dust Catcher
- Joined
- Nov 11, 2008
- Messages
- 269
Last December I rented out a total of 5 days worth of DVC points through a broker when I had a broken hip and subsequent hip replacement surgery and could not use 2 short reservations. I have never rented points before and was pleased how easy it was. Then last week I received a 1099-MISC form from the rental broker listing my rental income. I see I need to file a Schedule E for this for my Federal taxes as well as input the information from the 1099-MISC. I calculated my total taxes and operating expenses using the DVC website for the number of points I rented. I can see on Schedule E that the taxes would go on line 16 of page 1. My question is where to put the "operating expenses" on Schedule E which I should be able to list to offset some of the rental income which I listed on line 3? Would it be line 7, "Cleaning and maintenance" or should it go somewhere else? Any input from someone who knows for certain is appreciated. Thank you!
