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arkeetect
New Member

We didn’t receive 1099 but we had some income from AirBnb when we rented a room during 2019. The income was not enough for AirBnb to send us a 1099. What’d you suggest?

 
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1 Reply
JotikaT2
Employee Tax Expert

We didn’t receive 1099 but we had some income from AirBnb when we rented a room during 2019. The income was not enough for AirBnb to send us a 1099. What’d you suggest?

It depends.

 

If the room was rented for at least 14 days during the year, you will need to report your income and expenses on Schedule E, Rental Properties & Royalties.

 

You would enter your information for a rental property in the federal interview section.

  1. Select Income & Expenses 
  2. Scroll down to see All Income and select Rentals, Royalties, and Farm
  3. Select Rental Properties and Royalties (Sch E
  4. Select Add Another Rental or Royalty property as prompted.
  5. Be sure to enter all of the information including income and expenses as it relates to your rental property.  You will be able to edit your information as needed in the page titled Rental and Royalty Summary.
  6. Answer the questions relating to your property until you see the screen which says "Do Any of These Situations Apply to This Property". 
  7. Under the Rental section, check the box where it says "I rent out part of my home". 

Click continue to answer the remaining questions regarding the room you rented out. 

 

Below are some additional links to help you determine what costs to include in your rental expenses.

 

Deductible rental expenses once renting property

 

See the following link for guidance from the IRS on renting residential property and when it's required to be reported.

 

IRS Guide for Renting Residential & Vacation Property

 

 

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