Question posted by RonMo on August 1st, 2017
How To Report Short Term Rental From Airbnb?
I rented my own place for a few days (less than 14) so the income should be tax free. However the 1099 sent by Airbnb doesn't report the number of days for the rental, just the income. If I report it to the IRS I will get taxed on this income which is tax free. If I don't report it the IRS will question me about it. Is there a way to report tax free income like this one?
Current Answers
Answer #1: Posted by waelsaidani1 on August 2nd, 2017 2:49 AM
waelsaidani1
Member since:
May 12th, 2013 Points: 19,501,797
Member since:
May 12th, 2013 Points: 19,501,797
the rental income you earned from Airbnb is reportable on Form 1040, unless the non-taxable rental exception applies (discussed below). It is important to note that the gross amount reported to you will exceed the actual amount paid-out by Airbnb. Refunds, services fees, and adjustments are not included in the gross amount. These differences will be accounted for as deductions on your tax return.
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