STR loophole for AirBnb

[Matthew Kauk]

I have an Airbnb that I bought in August of 2023.

Starting in January of 2024. I began to track my hours and where those hours went.

My understanding is that I can use the STR loophole to reduce my wife's taxable income. If I reach 100 hours and more then anyone else for the property.

1. Is there anything else I need to do to be able to take that reduction for my wife?

2. If I add another property do I need to track this property separately or can I track them cumulatively?

Thanks all.

[John Underwood]

Can you even use your tracked hours against your wife's income?

I have no idea, but this doesn't sound right.

This is in the tax code not a loophole.