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Homework answers / question archive / Jim and Jacob are co-owners of a rental property at the beach
Jim and Jacob are co-owners of a rental property at the beach. The property was not used by Jim as a residence during the year. Jacob uses the property for 4 weeks each year while on vacation. Which of the following statements is true with regard to personal use days? a) Jim and Jacob will split the 4 weeks and have 2 weeks each personal use days. b) Jim will have 0 personal use days and Jacob will have 4 weeks personal use days. Jim and Jacob will both be considered to have 4 weeks personal use days. d) Neither Jim nor Jacob will be considered to have any personal use days.
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