Schedule C or Rental Income Schedule

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.

This is an international forum. So taxes operate differently depending on which country you are in and your personal tax situation. Probably worth speaking to an account for advice on how you can be tax efficient.

This link opens to a PDF from H&R Block that is specific to Airbnb owners


That little guide is worth its weight in gold for US taxpayers. And, it certainly eased my mind, as a resident owner of the unit being rented.