I own and manage several properties on Airbnb and Vrbo. Most are schedule C, and 2 are furnished Schedule E's. I received a 1099-K from Airbnb and Vrbo for 2024 and I am wondering do I stick all of that income from the 1099-K's in the Schedule C portion of income or deduct it as Schedule E income and then report it over there or what?
1 property was a Schedule C for 2023, at the start of 2024 became a Schedule E
The other property was never reported as anything as we only acquired it in December of last year, however both have income on the Airbnb and Vrbo 1099's.
Essentially I converted 1 from a Schedule C to an E and one that will just be an E and I am not sure the proper way to deal with the 1099 income reporting and the preexisting depreciation on the property, etc.
