Hello Hosts,
I’m relatively new to Peerspace and have a question about IRS Augusta Rule and how others have used/interpreted. To summarize, you don’t have to pay taxes on income if you live in the space and it’s booked <= 14 days a year. My question is - “how” is a “day” defined? 24 hours? 8 hours? Any event duration in a 24hr period?
If I rent my space for 2 hours in a single day, is that considered a “day”?
Or, is a day defined as the number of hours the space was booked (ie: 8 different individual day bookings @ 3 hrs each time = 24 hours = 1 day?)
Thank you!