Draw a Picture. Enjoying your creativity can be a wonderful way to relieve stress, and it's not just an activity for artists. It's been proven that drawing and coloring can effectively relieve stress, so pick up a pencil and doodle.
In fact you don't even have to report the income to the IRS. Your rental income is tax free if, during the year: 1  you rent out your home for 14 days or less), and. 2  the home is used personally for more than 14 days, or more than 10% of the total days it is rented to others at a fair rental price. ( 3 IRC Sec. 280A(g).).
Landlords and resident owners all have to pay the association dues. Tax write-offs are much more generous for rental property than for personal homes. For example, on personal homes, your homeowners association dues are a personal expense, and not an allowed deduction.A rental property is a business, however, so HOA fees are a business expense -- and a valid tax write-off.oss Limit. If you turn a profit on your rental or rentals this year, you can deduct 100 percent of your expenses, including HOA fees. When you run in the red, the IRS won't let you write off the loss against your non-rental income. Instead, you carry it forward to deduct from next year's rental revenue.