Tax Question: House built solely for Airbnb. How should I report income from rentals and cost of construction? Schedule E, C or on personal tax form?

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Tax Question: House built solely for Airbnb. How should I report income from rentals and cost of construction? Schedule E, C or on personal tax form?

It depends.

If you are providing services (meals, maid service, concierge services, etc.), it goes on Schedule C as a business.

Otherwise, it goes on Schedule E as a rental.

In both situations, you add up the cost of construction and you will depreciate the home.

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Tax Question: House built solely for Airbnb. How should I report income from rentals and cost of construction? Schedule E, C or on personal tax form?

It depends.

If you are providing services (meals, maid service, concierge services, etc.), it goes on Schedule C as a business.

Otherwise, it goes on Schedule E as a rental.

In both situations, you add up the cost of construction and you will depreciate the home.

Tax Question: House built solely for Airbnb. How should I report income from rentals and cost of construction? Schedule E, C or on personal tax form?

See https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/10-Tax-Tips-for-Airbnb--HomeAwa... for info that you will need to know concerning reporting of short term rentals.

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