Can I file a Schedule C one year and file a Schedule E the next year for the same short term rental property? I have an AirBNB and filed a Schedule C the first year since I was actively involved by cleaning the house sometimes between guests. The second year I did not clean and we do not provide substantial services to guests and I feel like a Schedule E should be filed instead of C. Can I file a schedule E instead the second year or do I have to stick with Schedule C? Or if I feel a Schedule E should be filed since we do not provide substantial services to guests do I have to amend my first return and change it from a Schedule C to E?
You'll need to sign in or create an account to connect with an expert.
You don't have to amend your prior year return and change your business reporting. You can be actively involved in the business and provide additional services to you short term tenants, like cleaning, cooking etc. in one year and just receive rental income in another year. It is acceptable as long as you consistent with your depreciation deduction for that property.
You don't have to amend your prior year return and change your business reporting. You can be actively involved in the business and provide additional services to you short term tenants, like cleaning, cooking etc. in one year and just receive rental income in another year. It is acceptable as long as you consistent with your depreciation deduction for that property.
You don't need to do that. Besides, reporting long term residential rental real estate on SCH C is just flat out wrong. (with "extremely" rare exceptions, of which being "actively involved" is not one of those exceptions.)
Long term rental income/expenses is reported on SCH E. You've provided no information that would lead me to think or believe otherwise.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
wrc41
Level 2
loricoutu
New Member
shellyfetzer73
New Member
clraqu
New Member
RBnyc917
New Member