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Lauren owns a condominium. In each of the following alternative situations, determine whether the condominium should...

Lauren owns a condominium. In each of the following alternative situations, determine whether the condominium should be treated as a residence or a nonresidence for tax purposes.

b. Lauren lives in the condo for 11 days and rents it out for 16 days.

Residence

Nonresident

Lauren owns a condominium. In each of the following alternative situations, determine whether the condominium should be treated as a residence or a nonresidence for tax purposes.

c. Lauren lives in the condo for 66 days and rents it out for 92 days.

  • Residence

  • Nonresidence



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Answer #1

b.

Nonresident.

Explanation : Lauren lives for 11 days which is less than 14 days. therefore Lauren is non resident

c. Resident

Explanation : Lauren live for 66 days which is more than 14 days and lives for more than 10 % of rental days which is 9.2 days ( 92 * 10% = 9.2). Since stay satisfies both the conditions , Lauren is considered as resident.

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