Inauguration Rentals in Washington DC Available for Inauguration Week 2009

Many owners — whose inauguration rentals has been posted on Wil’s Domain — are stymied by potential tax liabilities. Contrary to popular belief, there is no need to worry.

In Washington D.C., the Office of Tax and Revenue has opted not to impose a sales tax on owners of inauguration rentals who are offering their properties for rent to out-of-towners who are coming to the District of Columbia area for the inauguration of President-elect Barack Obama, the outgoing junior Senator of Illinois.

Inauguration rentals owners are rejoicing over the news, during a time when the nation is enduring one of the worst financial crisis in decades. Usually the city imposes a 14.5 percent sales tax on a property that has been rented out 90 days or less; however, city officials have opted to suspend imposing a tax on any rental property during the historical inaugural for the nation’s first African-American U.S. President.

What about reporting requirements?

The Office of Tax and Revenue has issued a statement each property owner are still obligated to report any earnings on his or her city and federal income tax filings.

Regarding your keeping records for the Internal Revenue Service, relax. The IRS will not impose a tax bill on any vacation rentals which is rented out 14 days or less within any calendar year. In fact, Inaugural rental property owners are not even required to report the income on property that is rented out 14 days or less. Also, property owners aren’t allowed to deduct any expenses pertaining to the rental property.

For more information, inaugural rental property owners in the Washington D.C. area should contact the Office of Tax and Revenue at 1-202-727-4TAX (4829) and/or the visit the Internal Revenue Service’s Web site at www.irs.gov or call the IRS’s TeleTax line at 1-800-829-4477.

DISCLAIMER:

Wil’s Domain is not a law firm and does not offer legal advice. The Weblog entries and selected laws on this Web site are for informational purposes only. The introduction this provides to law is unofficial and not authorized by any government agency. You should neither rely upon its articles for legal advice nor rely upon its quoted statutes as the official version of the law. You should contact an attorney, accountant, financial advisor, banker, or other business or legal advisor for legal advice and consult government authorized publications for official sources of statutes.

About Wil Ford

Wil Ford — a disabled U.S. Marine veteran and the founder of Wil's Domain — is a technologist extraordinaire with whom bloggers, Webmasters, Web developers and other technologist extraordinaires from around the world connect. A native of New York City, Wil writes articles on many and varied topics in which he is sincerely interested.
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6 Responses to Inauguration Rentals in Washington DC Available for Inauguration Week 2009

  1. Voltaire says:

    Studio #206, located at Thomas Circle, NW. Right in the heart of Washington DC – still available for lodging during the 2009 Inauguration Week.

    For more detail go to – http://www.mijandassociates.com/Inauguration2009.html

    Bidding ends December 15th… It’s not too late to place your bid..!!! Good luck!!

  2. Mark calligan says:

    Large 6 bedroom 3 bath detached victorian for rent for ignaugaration nicely furnished 4 blocks to metro 2 blocks to down town DC 5 minute drive to Capitol Building 15000 per week Home can accommodate large group up to 15

  3. All good points Wil. If it helps your readers get more comfortable with these tax laws, read this short post which references both the federal and state tax rules via IRS Publication 527 among others: http://www.onemillionbucks.net/2008/12/no-taxes-on-rental-income-for-14-days_29.html

  4. John says:

    16 – 22 January 2009 Penthouse Apartment Seventeenth Floor in a New Building available for the Presidential Inauguration it has all the amenities including Jacuzzi, balcony, big furnished kitchen, fully furnished apartment, non smoking, washer and dryer secure parking place.
    We have a King and a Queen bed to sleep four and options for roll away for two.
    Indoor heated pool and Sauna with full workout and a Starbuck in our building.
    A beautiful view of the Washington Monument, Capital Building and State House we are on Crystal Drive at Regan Airport very convenient to downtown access.
    The Metro is 1500 steps away with the heart of shopping walking distance from our front door.
    $10.000 or the Best Offer.
    Call at
    703-568-5642
    561-420-5578

  5. Inauguration 44 says:

    Attending the Inauguration…but still need a place to stay.

    Clean, warm and safe, large l bedroom unit for lease the week of January 17th through January 24th. Located in Upper Northwest, Washington DC. Three blocks from Takoma Metro Station.

    All areas in furnished unit accessible; kitchen, bathroom, living room, dining room, back porch.

    King size bed with new sheets as well as a large air mattress (located in living room) with new sheets will be provided for use.

    Coin operated washer/dryer available. All utilities and wireless internet are fully included.

    Three-day minimum stay. Short Term Lease Agreement Required. Payment upfront.

    Entire Unit $400 a night. Perfect for small group.

    Interested, please e-mail inaugurationrental44@verizon.net

  6. Inaugural Rental says:

    NE Washington DC, 10 minutes from the Deanwood or Benning Road Metro. l bedroom unit for lease from January 17th through January 24th.

    All areas in furnished unit are accessible. King size bed with new sheets and towels, with large couch and loveseat in the living room. Coin operated washer/dryer available.

    Three-day minimum stay. Short Term Lease Agreement Required. Payment upfront.

    Entire Unit $350 a night. Perfect for small group.

    Interested, please call 240-417-7946

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