It makes sense to collect the money, take out all the expenses and send the remainder, especially because you don't have to worry about the owners not paying their bills. And it certainly appears customary to do it that way. I've run the issue - having to record income that isn't mine - by a TurboTax Expert, plus a TurboTax CPA. They both understand the dilemma but unfortunately had no solution. Apparently, Airbnb as of 2022 will issue 1099s for all funds disbursed, so you are forced to record a potentially immense amount of "income", that, if properly accounted for, wouldn't even show up on an income statement. It's a balance sheet item - the money collected is just a deposit. Only the fees are the property manager's income. Yes, it matters... I would very much appreciate feedback from some users, who also understand why this is a problem.
