Crashpad Taxes

[christina_h]

I have a lease on an apartment and sublet out beds to flight attendants, as well as providing utilities, supplies, cleaning services, etc for them. I have all my records for rent and expenses, but I'm unsure if this is considered a rental (since it's my apartment) or a business. Which section should I be using on Turbotax to account for the income / expenses? I found this explanation on another website, but want to be sure it's actually correct. If so, would I report on the Rental (Schedule E) as a single family residence?

"Yes (you should declare income received from subletting), but you likely won't owe any taxes because of it. Any payments you receive from your subtenant, including utilities or anything else included in the lease, is considered rental income. Any costs associated with the lease, including rent, is an expense that you can deduct against your rental income. You report both your income and expenses on IRS Form 1040, also called Schedule E. You can read more about it on the IRS website."

I use Turbotax self-employed for one of my jobs, not because of this tax situation. 

Thanks for any help!

[ee-ea]

You provide cleaning and bed linen. See this from the IRS

https://www.irs.gov/publications/p527#en_US_2022_publink1000234064

[christina_h]

I only provide cleaning of shared areas (twice a month) and a set of linens upon move in that they launder themselves. They do their own laundry, make their own beds and clean up any personal messes. I occupy my own space in the apartment when I'm in town.

From what you linked, it sounds like Schedule E would still be appropriate?

[ee-ea]

@christina_h   You do not provide substantial services. Scchedule E.

[christina_h]

Thank you! I reported on Schedule E for 2021, but was second guessing myself when I started my taxes now.