I am curious as to how established hosts have been advised to report income and expenses for their properties. I am about to turn a full one level suite (no private entrance) in my own home from a long time rental to Airbnb. As the rental of 1/3 of my home, I have always used the Rental Income IRS schedule, and hope that I can continue to do so.
What have been your experiences with these alternatives, please. Yes, I know about depreciation “recapture on sale”. BUT this part of my home has been a rental for so long that it has already been fully depreciated, so that makes no difference to me.