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).).
The rental income tax is the amount of tax one pays to the government for income that is derived from the use of residential property. This tax came about when the Finance Act 2015 introduced a new Section 6A in the Income Tax Act that provides for a simplified tax regime on rental income. The rental income tax is the amount of tax one pays to the government for income that is derived from the use of residential property. However, if the rent collected exceeds ten million shillings during any year of income, one does not qualify to be in this tax bracket.