Can you help me determine if I should file a LLC business tax return or if I should add self employment income to my joint tax return?
We just started renting our home on Airbnb. We live there 6-7 months of the year. This year we made less than 2K in December. I was thinking if we claim that as self employed income on our joint return, all of the business deductions would give us a bigger bang for our buck than if we filled the small income as a standalone business return. We spent a lot of money in 2023 getting the house ready to rent and it won't really do much for us against a 2K Airbnb payout.
We did create an LLC but I can change our W9 with the sites to our personal info if we want them to file it against us directly instead of the business. I am thinking the write offs will be more useful if we file on our personal return rather than as a business.
