Airbnb Househacking CPA?

Question

Jake Hottenrott · Answer

@Myka Artis - You should receive a 1099-K if you exceed both $20,000 of earnings and 200 stays in a year.  Airbnb won't send out a 1099 for amounts under that, but it is still the hosts responsibility to pull the earnings report and use that to report your income on your taxes.  Please let me know if you have any more questions!

Antoinette Munroe · Answer

Let me know if you find someone, i'm interested in the same. Currently i just file my expenses on my personal return. However i think i will be setting up  a partnership to run my rentals soon

Jenny Ph · Answer

Kimy from http://briaraccounting.com can help you with that. She does not live in Greenville though.

Jake Hottenrott · Answer

@Candace Wiley - While you will not have to file a separate return for the vacation rental, you will have to include it on either Schedule E or Schedule C of your personal return depending on a few factors and the circumstances revolving around the services provided to your tenants.

There are a lot of great CPAs on this site who invest (in a variety of ways) and are active.  If you'd like to ask more questions, feel free to post them here or shoot me a message and we can set up a time to talk.  I'm always happy to help as we ventured into the AirBnB hosting world too this year.  Best of luck!

Antoinette Munroe · Answer

@Myka Artis Yes, that's my primary MO. This is the first year with them so i'll find out about the 1099 soon i guess.

Taylor Brugna · Answer

@Michael McKay Thanks for the mention!

@Candace Wiley and @Antoinette Munroe feel free to reach out with any questions. The short term rental space is becoming very popular and a good chunk of my clients are actively involved. If managed properly, it's definitely a great way to boost returns!

Michael McKay · Answer

@Taylor Brugna does this for me. I rent out a room in my personal residence for short term guests.

Jake Hottenrott · Answer

@Myka Artis - Feel free, I'm always happy to chat and help.

Airbnb Househacking CPA?

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