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New Member
posted Jan 25, 2022 5:36:39 PM

Airbnb Rental Income tax

Hello,

 

I am currently in the market to buy a house to rent out full time on Airbnb. With my income alone, I wouldn't qualify for much. So, my dad is going to co-sign for me. All my dad is going to do is cosign, everything from the down payment, monthly mortage, taxes, etc is all me.  My question is "Does the Airbnb rental income count as income for dad, since he would be on the title and a co-owner of the property?" "Would it affect how much he owes in taxes?"

 

Thank you

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1 Replies
Expert Alumni
Jan 25, 2022 7:24:02 PM

No, your father would not have to report the income or deductions associated with the rental property on his tax return unless he was actively involved with it. His ownership interest by itself would not have an income tax consequence to him.