Taxpayer rented out with AIRBNB and made $8,439.50
She paid to rent it $13,300
Took a loss. How would I write that off the sch e?
Generally, you will file Schedule C for your short-term vacation rental if: The average guest rents the property for fewer than 7 days, OR. The average guest stay is fewer than 30 days AND you provide guests with “substantial services”
@Terry53029 wrote:
Generally, you will file Schedule C for your short-term vacation rental if: The average guest rents the property for fewer than 7 days, OR. The average guest stay is fewer than 30 days AND you provide guests with “substantial services”
No, Schedule C is only if "services" are provided (such as maid service or meals). The Short-Term aspect has nothing to do with putting it on Schedule C (other than that short-term is more likely to provides such "services").
@MGC94 wrote:
Taxpayer rented out with AIRBNB and made $8,439.50
She paid to rent it $13,300
Took a loss. How would I write that off the sch e?
Enter the income. Enter the expenses paid.
@TaxGuyBill Where would you write off the rent she paid to rent it
Line 19 of Schedule E seems to have the best description.
However, was there any personal use? If so, I don't think 19 will treat it correctly and you might need to fiddle around with some manual calculations.
If you sublease, do you depreciate the building?
No. You don't own anything to depreciate.
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