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Can I deduct rent paid against Airbnb income for property I don't own?
Hi Everyone! I have an Airbnb that I've rented out for the entire year, mostly to long term stays of 1-month or longer, and I'm expecting to receive a 1099-K from Airbnb for about 100K of income. However I don't actually own the home, and have an arrangement with the owner where I pay him 50K a year in rent. Will I be able to deduct that 50K expense on my return, and where would be the appropriate place to do so? Thanks!
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‎August 9, 2022
1:06 PM