If I have a small amount of income from Air BnB, where should I enter that in Turbo Tax?
And where would I enter deductions for work or repairs made to same place?
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Note: If you rented this property for 14 days or less, you are not required to report the rental income. But you also cannot deduct any related expenses. This is one of those tax breaks that allows you to test the activity.
Rental activity for Airbnb may be reported in two different areas of your tax return, for specific reasons, and with different outcomes. Please review this article for a discussion of these options so you may choose the most appropriate place to report this on your return: Tax
Issues When Renting Your Home on Airbnb or VRBO
Most taxpayers chose to report Airbnb rental activity on Schedule E. If this applies to you, start under Wages & Income >> Rental Properties (or search for "Schedule E") and follow these instructions: Where do I enter income and expenses from a rental property?
Start under Wages & Income, 1099-Misc and Other Common Income, Income from 1099-Misc (or search for "1099-MISC"). Even though Airbnb probably gave you only an Earnings Summary, enter the income reported to you as if from 1099-Misc and indicate that you may also have income for 2016 from the same source. Based on your entries, TurboTax will prepare Schedule C for your return.
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