Yes, it's perfectly possible for what you have to be a SCH E business. Most who get into the AirB&B thing do it with the full intention of it being a SCH C business so they can benefit from it with increased contributions to their social security and Medicare accounts (which helps them at retirement age), as well as being able to include that income when figuring their maximum allowed IRA contribution for the year.
So are you going to stick with SCH E? If so, we just need to modify a few things. There is more than one way to deal with this in TurboTax and the end result will still be the same. If you've been reporting it on SCH E in the past and intend to continue that into the future, then we just need to make a few modifications to my above guidance.
