This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!
Some day I’ll just be sitting back watching all the questions from the newbies flow by…but for now I’m the one asking them…
It looks like an important piece of data, tax wise, will be how many days the room was rented out during the year. I don’t see that info anywhere on my airbnb account - is it available? Do they provide it with the 1099? Or do I have to review my calendar and count each day…
Go to the Accounts menu when logged in, look at the menu on the left, and select Transaction History. Then click on the Gross Earnings tab to the right. This will provide you with a tidy report showing you every reservation for the year, including the dates and amounts earned. It’s probably the easiest way to see the number of dates your room was rented for the year.
Generally if the number is 15 nights or more for the year, you have to report the income to the IRS.
I actually just add the number of days information on my spreadsheet. I keep the guests information, dates, email address (yes, I ask for their personal one), flight information, amount of guests, country, payout amount and notes on each guests.
I rented out a spare bedroom in my home for 61 nights in 2015, and I’m trying to figure out the prorating of expenses. The spare bedroom was used periodically for hosting family/friend guests, but was not otherwise used for an office or other home purposes.
I’m confused about this statement in the recent Airbnb informal tax advice (http://assets.airbnb.com/eyguidance/us.pdf): “You may deduct expenses on your rental property during a period in which it is not being rented as long as it is actively being held out for rent. This applies to a period between rentals, as well as to the period during which a property is being marketed as a rental property for the first time. The IRS can disallow these deductions if you are unable to show you were actively seeking a profit and had a reasonable expectation of achieving one. The deduction cannot be disallowed just because your property is difficult to rent.” (page 11)
This seems to contradict the statement from IRS Publication #572, "Any day that the unit is available for rent but not actually rented is not a day of rental use. "
If I use the latter statement, I can only count days in which my spare bedroom was actually rented (61 days). If I use the former, it seems I could use the days in which my spare bedroom was actually rented (61 days) AND the days when it was listed as “available” for rent on Airbnb (somewhere around 250 days). These are two pretty different numbers, resulting in very different percentage amounts for prorating expenses.
Can someone help clarify the difference? I realize that ultimately I will want to check with a tax professional – but I’m curious about what I’m missing when reading the IRS publications and trying to apply them to Airbnb renting within my home.
Based on Evelyn’s feedback, I made my own google spreadsheet that automatically calculates the yearly numbers based on check-in / check-out dates. Here in Tokyo we have a 180 day limit before we must register more formally as a hotel, so my sheet is set up to highlight this. I’ve created a read-only version that anyone can view and copy for their own use here:
docs [dot] google [dot] com/spreadsheets/d/1phPDH5uG1GZ2EPwHIJyJjfLimpp2JuzeGOeZ0JUxrOE/edit?usp=sharing
Any thoughts or constructive criticism are welcome.