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Like Tiger And Bubba, Taxpayers Can Win At The U.S. Open, Too

A crowd watches as Tiger Woods plays a shot fr...
A crowd watches as Tiger Woods plays a shot from the 9th hole on the first day of the US Open at San Francisco's Olympic Club on June 14, 2012 in California.  (Image credit: AFP/Getty Images via @daylife)
I don’t golf. If you’ve ever met me in real life, you’d know this in a matter of minutes. I don’t have the patience for it. I can’t sit nicely and wait my turn. I’m a bit loud. Also, I look terrible in polo shirts.
So I’m not really your target audience for golf. But I, like many in America, will still be watching to see what happens when golfing luminaries Tiger Woods, Rory McIlroy, Bubba Watson, Matt Kuchar and Masters winner Adam Scott tee off at the Merion Golf Club to compete for the $8 million purse at the PGA U.S. Open. Even if you don’t golf, it’s a huge event. Kind of like the Super Bowl. Only much more quiet.
You know who else will likely be watching? The Internal Revenue Service. You see, it’s not just Woods and Watson looking to benefit from the U.S. Open this month: ordinary folks are looking to make a few dollars, too.
Take rentals. For months now, those who live near the Merion Golf Club have been offering spots in their homes, driveways and garages for those traveling to the Open. And those spots don’t come cheap. A quick search on the internet reveals that there are still rentals available: a one week rental that sleeps 6 can be had for $11,000. Yes, $11,000. A parking space located about a mile away from the course is available for $1,500. And even my husband thought about opening up our Manayunk home for guests when he heard that a twin in neighboring Ardmore was being offered up for a whopping $3,500 per day.
That’s a lot of cash. Funds that you receive for the use of real estate – even if it’s your personal residence – are usually taxable to you as rental income. So if those folks in Ardmore manage to get paid nearly $25,000 for the use of their home for the week (God bless ‘em) it may be reportable as taxable income.

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