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AirBnB rental

We have rented our home dwelling through AirBnB at times this year when we are located in other parts of the country. To prepare for this, we paid for a storage locker for our personal items. We also bought new sheets and towels to be used by renters. 2 questions:

1. Are both the renter locker cost and the purchase of sheets and towels deductible against rental income?

2. If we incurred this costs in 2021 in preparation for the 2022 rental, are they still deductible on our 2022 return?

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1 Reply
Amorette_M
Expert Alumni

AirBnB rental

Hi @ferrrich 

In order for the rental expense to be deductible it needs to be considered "Ordinary and Necessary".  It would be a reasonable assumption that those two expenses fit the criteria.  It is highly recommended with all rentals, that you keep immaculate records and bookkeeping.  This link is a great one stop for all your rental questions and has a full list of the types of expe...
Regarding the time frame for your expenses, if you were not actively trying to rent the property at the time, you cannot deduct the expenses.  So for 2021, if it was not available to rent at that time, then you would not be able to deduct the expense on your Tax Year 2021 return.  For your 2022 tax return, you can deduct the expenses that were incurred while you were trying to rent it.  This link goes into deeper discussion about rental expenses. 

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