Page 96 - Other Income for Individuals

Rents from Personal Property

Rents

 If you rent out personal property, such as
01 02 equipment or vehicles, how you report

your income and expenses is in most
cases determined by:
• Whether or not the rental activity is
a business, and
• Whether or not the rental activity is
conducted for profit.
04 03  In most cases, if your primary purpose is

income or profit and you’re involved in

the rental activity with continuity and
regularity, your rental activity is a
business.
 See Pub. 535, Business Expenses, for
details on deducting expenses for both
business and not-for-profit activities.

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