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How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

 
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5 Replies
AmyC
Expert Alumni

How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

  1. Log into your return
  2. Pick up where you left off
  3. Select search/magnifying glass
  4. Enter the words rental property
  5. select first entry, Jump to rental property

You are not a real estate professional.

 

Is This a Rental Property or Royalty?

*This is a rental property and description can be simple, like "room of house"

What Type of Rental is This? *click Single family

Do Any of These Situations Apply?

*click NEW 2019 was the first year I rented

*click RENTED, I rent out part of my home

Was This Property Rented for All of 2019? *yes, rented all year

you will continue through answering questions based on you

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groq
New Member

How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

How do you handle expenses if it is a portion of the house? By Square Feet? Mortgage interest? RE Tax? Utilities?

JohnB5677
Expert Alumni

How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

If you rent a room in your home it should be allocated based on

  • Square footage, and
  • Days used

Regular expenses such as mortgage interest, heat, taxes and water can be allocated on a combined percentage based on both criteria . 

 

However, improvements made to the specific room can be allocated directly based on the days used.  If you painted that room, you could take the full expense based on the days used.

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Sullyeli44
Returning Member

How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

If I had people renting out of my house how do you split between days rented at fair rental value price and personal use during the year Both have to add up to under 365 but what if I lived in it 210 days and rented it out 183 days. I started in June so it was not rented all of 2019. 

JohnB5677
Expert Alumni

How should I report airbnb income if it was my primary residence? I rented out a room, all short-term stays, just here and there in 2019. But was always in the home.

You will need the Premier or Home & Business TurboTax software.

 

In Premier you will go to 

  1. Federal Taxes
  2. Wages & Income
  3. I'll choose what I work on
  4. Scroll down to Rental Properties and Royalties [START]
  5. Yes you had income from Rentals ...
  6. Check None of the above
  7. Enter property name & address
  8. Type of house
  9. Select NEW if this was the first year you rented
  10. NO This property was not rented all year
  11. Enter Rental Days and Personal Days
  12. Continue through the questions
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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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