It’s already Feb. 10 and I still have not received form 1099 from Airbnb or Vrbo. Should I wait a little longer? I have just finished hosting for one year and this will be the first time I file tax with the rental income. I plan to use TurboTax so hopefully it will be smooth. If you have previous experience using TurboTax for your rentals please share. Thanks.
Did you make over 20k on one of them? If not there’s no 1099. But you van get the total income off the Airbnb site under the performance tab.
I have never received a 1099 from either AirBnb or VRBO. I grossed well above 20K with air in 2020 . I do not recall ever filling out any tax forms for them either. My accountant puts the income on my schedule C
It’s the 200+ reservations (in the year) that limits who gets a 1099
Ah forgot it was 20k and 200.
That’s nuts… Stays have nothing to do with it its about the money. I have to give 1099’s for anything over $600
I agree with Riverrock. Anything over $600 should trigger having to issue a 1099.
Luckily you can get your totals off airbnb to give to your accountant.
I don’t know what the IRS rules are but Airbnb has never issued me a 1099 and I’ve been hosting 7 years. I never have more than 20k and more than 200 bookings a year.
1099-K for third party payment processing is different than 1099-MISC for contractor payments which have the $600 trigger.
Also, you could get a 1099-K from Airbnb and VRBO if you are below the federal tax reporting threshold but meet the lower limits in the US states of Arkansas, D.C., Florida, Illinois, Maryland, Massachusetts, Mississippi, Missouri, New Jersey, Pennsylvania, Vermont, Virginia. $600 threshold in VA, not sure about the others.
Theoretically only the state tax authority gets a copy for their threshold below $20,000 + 200, but I wouldn’t count on that. That is only of concern if you are trying to avoid reporting (= tax evasion).
Thanks for the responses. I made over 20K but not more than 200 reservations. I’m going to do the tax my own with TurboTax and see how it goes. I can’t imagine it’s that difficult with the software. No state tax since I’m in TX.
I got an email last week with the link to my 1099, although I only had one stay in 2020, in February.
How did you request a 1099? We are having
Major issues with Airbnb’s reporting. The csv file you get when you run the report yourself for earnings is a legit joke. Instead of having one line with say, 50 columns showing you all the info on a guests. Instead they have some information on multiple lines that can’t possible be sorted we need:
Name, checkin date, checkout daye, #of nights, nightly rate, cleaning fee, occupancy tax collected and more ALL ON ONE LINE SO YOU CAN SORT IT.
1099 forms are sent out or available online in the early part of the year for Jan-Dec of the previous year. it used to be that the deadline for sending them to taxpayers was Jan 31. Now I believe it’s later, probably in Feb.
You do know that a 1099 won’t contain all the data you want, right?
To capture the additional data we want, many hosts (like us) create a spreadsheet and fill it out through the year. Many of the details we keep are never available through Airbnb, such as additional guest names, guest email addresses, and guest breakfast preferences.