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N2713
Returning Member

If I offer for rent a camper on property I purchased is considered a rental property?

 
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3 Replies
CatinaT1
Employee Tax Expert

If I offer for rent a camper on property I purchased is considered a rental property?

Can you give us more information on how you rent the camper? Is it like an AirBNB or do you have a long term renter? How you rent the camper will determine if it is classified as a rental property or a business.

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N2713
Returning Member

If I offer for rent a camper on property I purchased is considered a rental property?

My plan was to rent it month to month where it sits.  No weekly rentals or moving the camper from it's site.  It is on property with lake access.

DianeW777
Expert Alumni

If I offer for rent a camper on property I purchased is considered a rental property?

Yes, it is considered rental income from a business activity rather than rental income from real property.  Generally, you will report RV rental income on Schedule C Profit or Loss from Business.

 

Schedule C allows you to report your business's profits, whether you are selling homemade quilts at a craft fair or renting a guest house on your property or an RV.  You can deduct business expenses, like the cost of internet or phone, office supplies, travel cost, and the cost of your home office, provided all of these expenses relate directly to your business dealings.

 

To enter your RV income and expenses in TurboTax follow these steps:

  1. Open or continue your return
  2. Search (upper right) schedule c and click the Jump to... link 
  3. Answer Yes to Did you have any self-employment income or expenses? If you've already entered self-employment work and need to enter more, select Add another line of work
  4. Follow the on-screen instructions to enter your self-employment information.

Schedule E is specifically for reporting rental income or losses pursuant to real estate

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