How do I handle rental income on property I don't own? (Airbnb income)

[schmidmark89]

In the rental property section it asks who owns the property, but the only options are me, my wife, or both of us. We rent the property, but list it on airbnb from time to time (and we did go over 14 days)

[Phillip1 · Accepted solution]

In this case you will choose your wife, you, or both of you as the owners. Although you do not own the property, you still report the AirBnB income as rental income. TurboTax software is written under the broad assumption that landlords are generally owners

As you go through the rental section enter all of the information from the perspective of an owner. However, when the software asks the question “Do you have assets for this property that can be depreciated?” the only assets you can depreciate are furniture or appliances that you own. TurboTax may give you error messages since there will not be a residential real estate asset, but you will simply need to ignore any such messages.