Consider these Factors Before Listing Your Home on Airbnb

Understand what “short-term” means

1. Understand what “short-term” means

Under the IRS tax code, individuals who rent out their property on a short-term basis do not owe taxes on the income received from that transaction so long as the rental does not exceed 14 days throughout the year. In addition, the property must be used by the owner at least 14 days during the same time period. If total rental days exceeds this definition of short-term, the owner of the property is subject to income tax on the money earned from the rental. That’s not necessarily a bad thing, but it should be taken into consideration and planned for when using the property for an income boost.

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