Hello
I own a week with a timeshare and every now and then if I am not using the week, then I will put it up for rent. This is at a resort that has guest houses. I own 1 week in one of the guest houses. So when I put it up for rent the resort takes care of the rental, they then send me a check for the rental minus 30% that they keep. I also pay a yearly maintenance fee for this.
So in 2023 I put it up for rent and it did rent. I received a 1099-MISC showing the full rental income (including the 30% they keep)
My question is, is this...
A. Rental Income from the rental of real estate (schedule E)
or
B. Nonbusiness Income from the rental of personal property or equipment.
I am not sure if I should be fully taxed on this or not. If so, where do I put the 1,095 maintenance fee and the 30% fee they took?
Thanks
