We rent a property on airbnb and average less than 7-day stays, but it's rented out about half the year.
After reading several CPA blogs on Airbnb income from transient rentals , I understand the following:
- this is still passive schedule E income, even though the rentals are "transient," because we are not providing substantial services. (Some less knowledge bloggers seem to think that transient automatically means schedule C active income.).
- however, because of the transient nature of our rentals (less than 7 day average stay), the property does not qualify for 27.5 depreciation but instead must be depreciated over 39 years.
The problem is that turbotax is not asking for the average length of stay and is not giving the option for 39 year depreciation anywhere.
Is there a place to enter the average length of stay or a way to get 39 year depreciation???
