Vance owns a vacation house at the lake. He uses it nearly every weekend $($more than $14$ days$),$ but he occasionally rents out when he cannot get away. At what point would Vance NOT have to report this rental income on his tax return?

He rents the vacation house at less than fair rental price.

He rents the vacation house $14$ days or less in a year.

He must always report all of the rental income received.

When the number of days he rents the property exceeds $10\%$ of the number of days he personally uses it$.$

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