"You may report your AirBnB income and related expenses on Schedule E even though you do not own the property. You will not be able to claim any depreciation for the property, however, because you do not own it. Answer "no" to the "do you own...?" question. This will not affect Schedule E, other than the program will not let you enter the property for depreciation." as per PatriciaV's answer.
Her answer also has a lot of other good information about reporting AirBnB income.
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