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teresaf67
Returning Member

Airbnb in basement apartment of our home

We started Airbnb in May of this year.  We live upstairs in our home with a mortgage.  We rent the basement as Airbnb.  How can we separate the residence portion from the rental portion for personal use and rental days?  Are we correct in using Schedule C for the business?

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Accepted Solutions
VictorW9
Expert Alumni

Airbnb in basement apartment of our home

You will have to estimate the square footage used for Airbnb and allocate the mortgage payment appropriately. For rental days for your Airbnb, you will use the number of days the house was rented out.

 

If you provide additional services like cleaning and bed breakfast for your Airbnb service,then you can report the activity in a Schedule C.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
VictorW9
Expert Alumni

Airbnb in basement apartment of our home

You will have to estimate the square footage used for Airbnb and allocate the mortgage payment appropriately. For rental days for your Airbnb, you will use the number of days the house was rented out.

 

If you provide additional services like cleaning and bed breakfast for your Airbnb service,then you can report the activity in a Schedule C.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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