How do I report income from Turo?

[pdsmaui]

How do I report $4,795 of income from Turo? I tried it for a few months, but I closed it. Not an ongoing business.

[AmyC]

If it was a business, then sch C business. If it was a hobby, you can report it as hobby income. Hobby income does not have the self-employment tax that a business would. See Earning side income: Is it a hobby or a business?

[pdsmaui · Accepted solution]

I found that I need to report it as "Income from renting out personal property (not rental real estate or farm equipment)" under "Miscellaneous Income," where it lists such things as a personal vehicle. 

[Critter-3]

• Down the left side of the screen, click Federal.
• In the center of the screen, click Income & expenses.
• On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
• Click the Start or Update button for the last topic, Miscellaneous Income, 1099-A, 1099-C.
• On the next screen, Let's Work on Any Miscellaneous Income, scroll down and click the Start or Update button for the last topic, Other reportable income.
• The next screen asks, Did you receive any other taxable income. Click Yes.
• On the next screen, scroll down (see screen shot) . Click Continue.
• On the next screen click Done.

The income will be reported on Schedule 1 line 8 with the description that you entered. 

[AmyC]

Correct, if you were not in the business of renting your car for a profitable income, you were just renting it for a short term thing, it is just miscellaneous income. Report it on sch 1, line I, activity not engaged in for profit income. It could also go on line z under Other income.