Yes, the income that you receive on schedule E is taxable income. Any rental income that is more than the expenses you will pay regular income tax on.
If you are doing short term rentals that average less than 7 days per stay then all of your rental income should be entered on schedule C and you should be treating all of your rentals as a business. Then all of the expenses and income can be entered on schedule C.
Here is a good thread on the subject.
@mparvinjah
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
