I Airbnb homes that I lease from other people, I am not the property owner. In filling out the schedule E, I find it very confusing. My choices are below, please let me know if i'm doing it right.
1. At the bottom of "It this a rental property or royalty", it asks "this property is owned by" and displays my name, my wife's name, and "both of us". Just to move on, I chose my own name just to move on.
2. "what type of rental is this" I chose Vacation rental (i rented out the house 249 out of 365 days in 2017)
3. skipping to the next important part, under "property ownership", I chose, "No, I owned less than 100% of xxx house"
4. "we can automatically divid your income and expenses for you", I chose "yes" and put 0% for ownership percentage.
5. "do you materially participate in this rental property", I chose yes
6. "rents from a trade or business" I chose yes since i run 4 rentals and it is my full time job.
7. "lets find out if you're an active participant in this property" I chose "no"
Did I do this right?