If I rent my duplex as a short-term rental all year and don't use it, is it considered a short-term rental or multifamily?
You'll need to sign in or create an account to connect with an expert.
If you rent it like an AirBnB, it would be short-term.
Depending on your involvement, you may need to report it as a Self-Employment Business and use Schedule C.
HERE is a link to a similar question.
Hey, this wouldn't qualify as schedule c income.
Based on your comment, it would seem you do not provide substantial services. You should select Multi-family and then select Rented a unit in multi-unit where you live. Continue to answer the questions in your rental property.
Enter the mortgage interest and property taxes ONLY under the Rental Property section. TurboTax will calculate how much should be reported for your personal residence. Do not enter these amounts twice.
Thank you for the reply. The both the units are rented as short-term rentals in the house and I do not use the property for any personal use.
Since you do not live in one-half of the duplex, you would not indicate that you "rented a unit in a multi-unit where you live".
Also, if you think it is a possibility in the future that you might reside in half of the property, then you could consider entering each half of the duplex as its own rental property. It will require a duplication of effort to report your income and expenses twice in your return (once for each side), but it would make the conversion to personal use much simpler if that were to happen down the road.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
anitagorod
New Member
tompatty66
New Member
Raph
Community Manager
in Events
yuetwsoo
New Member
MSCOOKIE1
New Member