@xanman2112 wrote:
The first criteria is avg rental is 7 days or less, which is true for me, and provided "significant personal services"... but I don't know what that means? I don't have a personal "staff" working at the property. I just manage the bookings and communications with guests on AirBnB, and coordinate with my contractors (cleaners, property manager) for cleaning and maintenance (like plowing).
Is this considered "significant personal services"?
In my opinion, unless you (or someone you hire) is assisting the tenants while they are staying there (for example, maid service, providing meals, or other actions given towards the tenants), it is NOT "services". So that means it should be entered in the Rental section of TurboTax (Schedule E), not the Business section (Schedule C).
Then the next questions would be this: Does this rise to the level of a "Trade or Business"? I suspect most short term rentals would be a "yes". But then the question is "Do you Materially Participate" in that rental business?
https://www.irs.gov/publications/p925#en_US_2020_publink[phone number removed]
