I've searched and searched until I've gone crosseyed, and cannot seem to get a clear answer on this.
I currently run a full-time AirBNB on a home that I do not technically own. The home is under a land contract/land purchase agreement/lease to buy contract, so there is no actual mortgage, no actual mortgage interest, etc.
What expenses can I deduct, and how should I deduct them. I don't believe that I can use the Schedule E and depreciate the home that way. Can I claim the entire monthly payment, as it is ordinary and necessary for me to conduct my AirBNB business?
I am having issues finding the answer this particular situation.
