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sawc44
New Member

I have airbnb income for a room I rented out in an apartment I rent. Where do I file this in TurboTax?

We rented the room for more than 15 days but didn't get an actual 1099-K just a earnings summary.
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1 Reply
MargaretL
Expert Alumni

I have airbnb income for a room I rented out in an apartment I rent. Where do I file this in TurboTax?

Airbnb income may be reported in two different areas; there are very specific reasons why and each entry will have a different tax treatment.

If you rented the rooms for 14 days or less, you are not required to report the rental income. But you cannot deduct any related expenses, either.

Occasional, short -term rental with no guests services may be deducted as rental income:

  1. Federal Taxes
  2. Wages & Income
  3. Rental Properties and Royalties - follow the instructions  Where do I enter income and expenses from a rental property?

If you dedicate a room in your home solely for the paying clients, never live in that room and provide services such as regular cleaning or maid service, provide coffee or breakfast,  you may be considered "running a business".  In this case, you would deduct  your income and expenses as self-employed income, subject to Social Security and Medicare tax.

  1. Federal Taxes
  2. Wages & Income
  3. Business Items
  4. Business Income and Expenses (Sch  C)- you may be asked to upgrade to Self-Employed version.


 Your 1099-K question: You don't have to have 1099-k or any forms to report rental income. You are fine as long as you have the correct amount of your rental income received.  All you have to do is enter it in the section where we ask you enter rental income or gross income/general income as explained above.

Please refer to 10 Tips for Airbnb, HomeAway & VRBO Vacation Rentals for details.

 

 

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