Before renting out your home, familiarize yourself with the tax implications. Getty Images By Kimberly Lankford, Contributing Editor November 29, 2018From Kiplinger's Personal Finance QI’m thinking about renting out my house for a few weeks while I’m away on vacation this summer. What do I need to know about taxes? - B.G., New OrleansSee Also: Tips for Renting Your Home on Airbnb AIf you rent out your house for 14 or fewer days per year but you live there the rest of the time, the rental income is tax-free (but you can’t deduct rental expenses). If you rent out your house for more than 14 days per year, you must report your rental income when you file your tax return. You can also deduct rental expenses, generally based on the portion of the year that you rented your home. For details, see IRS Publication 527. Got a question? Ask Kim at firstname.lastname@example.org.