Here is another answer from the TurboTax help screen on the Property Profile:
"Rental and Royalty Property
What is a rental property?
In general, rental property is real estate that's leased or rented out to others, with some exceptions.
The most common exception is if the average stay at your property is 7 days or less. For example, you rent out your home or a space in your home as a bed and breakfast or using the popular website, Airbnb.
If your rental property falls under this or any of the less common exceptions, you'll have to report income and expenses from your property in the Profit or Loss from Business section (in TurboTax Home & Business) or Business Income and Expenses section (all other versions of TurboTax)."
