We rent out part of our house as Airbnb. The average stay per guest is less than 7 days, so TurboTax recommended using Schedule C and entering it as profit/loss from business, rather than Schedule E as rents.
In that case, is the rental portion considered the Home Office Deduction? If so, would I then simply divide the number of days rented by the total days in the year and use that as a percentage of time used for the Home Office Deduction? If not, where/how do I add the rental space itself (square footage)?
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If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, you report your rental income and expenses on Schedule C (Form 1040), Profit or Loss From Business,
The link below is to Publication 527 and has information,(page 12) that you may find useful.
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