I lease multiple single family residences from others and turn them into short term rentals on Airbnb. I do not own any of the properties. I work this business full time. My 1099-Misc from Airbnb was near 300k for 2017.
Aside from the regular cleanings, my guests have access to basic breakfasts and I offer myself available 24/7 as a “concierge”.
I have large assets and leasehold improvements that I need to capitalize. For example, I have renovated a kitchen, 2 bathrooms, put in a new driveway, a new patio, and new copper plumbing.
1. Can I file this as a schedule C or must I file it as a schedule E?
I've received conflicting answers from the community as seen in the links below:
This one is telling me to file a schedule E: https://ttlc.intuit.com/questions/4357761
This one is telling me to file a schedule C: https://ttlc.intuit.com/questions/4361790
PLEASE HELP!
