GeorgeM777
Expert Alumni

Investing

Perhaps.  Given your ownership and management of two Airbnbs, it appears you are in the business of managing properties.  Thus, if a family member asked you to manage a property and paid you compensation, then Schedule C is probably the correct form to complete.  

 

Whether APMs can manage properties in your state without license under certain conditions, is something on which we cannot offer an opinion.  

 

The mileage needs to be allocated to the specific business.  When it comes to reporting miles, you want to have accurate and detailed records that are created contemporaneously with your business trips.  Thus, you want to keep a log book, with the dates, miles driven, purpose of trip for each AirBnb and the other property.  Here is an IRS mileage log obtained from IRS Publication 463.  

 

 

@myraccoon

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