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Business & farm
Yes, you are correct. This would not be a rental activity since your customers are only staying an average of 5 nights. Instead, you will want to report your income on Schedule C as self-employment income. The property would be a business asset and depreciated as a hotel would be depreciated.
You will enter your income from your AirBnB activity in the business section of TurboTax as a business. You will also be subject to Self-Employment taxes on this income.
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‎February 22, 2023
6:06 PM