AirBnB & Taxes information
I have a question;
In terms of taxation on income taxes for the IRS, how is rental income treated? For example using AirBnB services?
Let’s say my condo makes 30k/yr in AirBNB before taxes, after all my deductions I claims, let’s say it come to 20k that I made, will it be taxed as regular income tax based on my overall income from my other W-2 income, and just put
me in whatever bracket? Or does Airbnb income is more like a business income and taxed separately and therefore higher?, aside from my W-2?
Thank you BP community All answers appreciated!
Most Popular Reply
Hello Arthur,
It depends how you structured your business to be honest. If you did it as a proprietor, LLC, S Corp, or Inc are treated differently.
Let me know how you set up the company and I would be happy to help.