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).).
Thinkstock/Stockbyte/Getty Images. Youâll have to pay taxes on the income you make from rental properties, but you also can deduct expenses associated with getting the property ready to rent and maintaining it thereafter. Homeowner association dues and condo fees fall into this category.ouâll have to pay taxes on the income you make from rental properties, but you also can deduct expenses associated with getting the property ready to rent and maintaining it thereafter.