Chris, who itemizes deductions, owns two homes. The first is their principal residence, where they live most of the year. The second is a vacation home. In 2022, Chris rented the vacation home at fair market value to unrelated parties for a total of 160 days. Chris stayed in the vacation home for 15 days in 2022. Is the vacation home a "qualified residence" under Section 163(h)(4)(A)(i)?

Answer rating: 100% (QA)

Under Section 163h4Ai of the Internal Revenue Code a qualified residence is defined as a taxpayers p... View the full answer