turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

danseurderrick
Returning Member

Re: I need a place to enter the avg rental period of my rental property. If <7 days, it gets reported as a business instead of rental, which means it's not passive income.

This is a very helpful thread, as I am in this same, what feels like too-new-for-the-IRS-to-understand boat of AirBnB owners who self-manage and the guidance is quite confusing.

 

I think I basically agree and understand that I should report my income on Schedule E, even though I'm hoping the loss generated is non-passive. In 2021 it should be non-passive because I was a real estate professional, but once I had a full-time W2 job in 2022 I need to qualify for non-passive in a different way to be safe.

 

My problem is that my average rental period in 2022, to be precise, was 7.85 days. I know this is splitting hairs, but could 7.85 days be in the category of a 7-day average? They could have said "not more than 8 days" if they meant to include 7.85 days, but on the flip side you could say that 7.85 days is not 8 days, therefore it must be in the category of 7 days or less. I wouldn't normally try to make this argument except that we're talking about an average. No one is renting for partial days/nights, so do they really mean to disqualify people with an average of 7.01 days? Thoughts?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Re: I need a place to enter the avg rental period of my rental property. If <7 days, it gets reported as a business instead of rental, which means it's not passive income.

The rule is "seven days or less", so 7.85 days would not qualify.

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

Manage cookies