Taxes on AirBnB vs Long-Term
Are there special tax brackets for vacation rentals? For example if you do AirBnB, do you pay higher income taxes for a vacation rental because it’s considered self-employment mini-hotel business? And also, if it’s a long-term rent is it taxes regularly based on your general income? Like if I have W2’s and also made $30,000 extra from long term rent, It will be combined with the extra W2 income and that will be my total income?
Thank you,
Arthur Voskanyan