Hi! I had a small amount of Airbnb income so I didn't get a tax form. Do I deduct Airbnb remitted taxes somehow?
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Even though the Airbnb income was not reported on a tax form, the income is still reportable.
What is the nature of the Airbnb remitted taxes. Are these local hospitality taxes? Or something else? Please clarify.
I guess that's part of my question. That's all my statement says.
We are not able to see the report from Airbnb that you are seeing.
I presume that you are seeing gross income charged by Airbnb and the remitted taxes are local hospitality taxes that Airbnb remitted in your behalf.
If that is the case, the gross income is reported as gross proceeds in a rental activity.
The remitted taxes would be listed as expenses within the rental activity. You may create an expense code for the expense.
In TurboTax Online, establish the rental activity by following these steps:
Rental property income is reported on Schedule E Supplemental Income and Loss. See also this TurboTax Help.
Would that still be the case if the income totaled $1500?
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