Is personal use of company condo taxable? I am an employee and use the company condo fringe bennefit?

Answer 1

If one of your your company's business lines is renting out condos and you perform services in relation to that business line, then that's not taxable. But if you're an IT guy and work in the Widget Division, free use of the condo is taxable and should be included on your W2 at fair market value.

Example, as used by the IRS. If you work for an airline as cabin crew and the airline also owns a hotel chain, your free Space-A seats are not taxable income, but a free hotel room would be taxable since that's not where you work. A hotel employee's rooms would be non-taxable but their Space-A flights would be taxable.