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Judy2022
Returning Member

Airbnb Remitted Tax

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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4 Replies
JamesG1
Expert Alumni

Airbnb Remitted Tax

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.

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Judy2022
Returning Member

Airbnb Remitted Tax

I guess that's part of my question.  That's all my statement says.

JamesG1
Expert Alumni

Airbnb Remitted Tax

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: 

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & income.
  • Scroll down to Rentals, Royalties, and Farm.  Click down arrow to the right.
  • Select Start / Revisit to the right of Rental Properties and Royalties.
  • At the screen Here's rental property info, select Add income to report rental income.
  • At the screen Here's rental property info, select Add expense or asset to report rental expense.
  • Select Add expense or asset to establish the rental property asset.
  • Answer the questions to establish the rental property asset and compute depreciation on the rental property asset.

Rental property income is reported on Schedule E Supplemental Income and Loss.  See also this TurboTax Help


 

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Judy2022
Returning Member

Airbnb Remitted Tax

Would that still be the case if the income totaled $1500?

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