One of the tax laws gives a special tax-free benefit for folks who rent out their personal home for 14 or fewer days.
It's sometimes called the "Masters exemption," because the first main use was by homeowners in Augusta, Ga. The homeowners there rented out their home for less than 15 days for the Masters Golf Tournament each year.
Because that tournament is popular, the rent can be as much as $20,000.
That will not be taxable income to the homeowner. The owner cannot claim any expenses of the rental (like depreciation), but still can claim the itemized deductions for …