No, the business
would not issue you a Form 1099-MISC for your income.
Based on the fact that you do offer significant personal services in addition to the accommodations
of your property complicates the situation somewhat. If you provided
these services for every guest instead of giving them the option to choose the
services, then you could report the income and expenses on Schedule C
instead of Schedule E. The overall
income for the Schedule C business would serve as your “income” and be subject
to self-employment tax. If the business
had an overall loss, then the loss would reduce other income items on your
return.
The situation is similar with Schedule E in that any overall
income from the rental property will be included on your return as income (not
subject to self-employment tax). However,
if there is an overall loss for the rental property, then it would likely be a
passive loss (unless you qualified as a real estate professional or met certain
income requirements to claim the loss) that would only reduce other passive
income or be carried forward to future tax years.
