Do I have to pay federal taxes on my money earned during renting?
Good news! The IRS Federal Tax Code contains a provision which states that homeowners are not required to pay federal income taxes on income generated by renting their primary residence for 14 days or less each year.
Specific information can be found on the IRS's website: https://www.irs.gov/taxtopics/tc415.html
Feel free to read more on this in the Wall Street Journal: http://www.wsj.com/articles/SB10001424052702304392704576380242257503756
Note, that we are not tax advisors, and we recommend discussing this with your accountant or tax preparer if you have any questions.