@KrisD15 wrote:
it depends if the rental is short-term, in which case it would need to be reported on Schedule C as a business.
The IRS has determined that short-term rentals, such as Airbnb, are a business and reported on Schedule C, not a rental on Schedule E.
Operators of Short-Term rentals will be subject to self-employment tax (FICA) on the profit.
No, short-term does NOT mean Schedule C. Schedule C (and SE tax) is used if "services" (such as maid service or meals) are provided to the tenants. If "services" are not provided to the tenants, it belongs on Schedule E (and not subject to SE tax).
