Sublease AIRBNB

Forum|Forum|2 years ago
April 4, 2024
2 replies
8 views

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?

ProSeries Professional

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Terry53029

Intuit Community Champion

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”

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TaxGuyBill

Level 15

@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").

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TaxGuyBill

Level 15

@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.

MGC94Author

Level 7

@TaxGuyBill Where would you write off the rent she paid to rent it

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TaxGuyBill

Level 15

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.

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