I rent a property and airbnb it. Average length of stay for the year is less than 7 days so it qualifies as active participation and losses should offset W2 income. I don't see a way to enter this in turbotax so the losses can offset W2 income. Please note, I RENT the place and don't own it.
I see another forum discussion debating about whether to put this on schedule C or schedule E. I don't even see an option to put a property that I rent (not own) on schedule E in TT. Schedule C allows me to record expenses but doesn't allow losses to offset W2 income. Anyone know how to do this? I'm using TT Online DYI Premium.
