Every Airbnb Host's Tax Guide

Every Airbnb Host's Tax Guide

by Stephen Fishman J.D.

Paperback(Second Edition)

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The complete tax guide for Airbnb and other short-term rental hosts

As a short-term rental host, you’re entitled to many valuable deductions and other tax benefits. This book—the first of its kind—shows you how to make the most out of your hosting business without risking problems with the IRS.

Learn everything you need to know about taxes, including:

  • what deductions you should be taking
  • how to report your short-term rental income
  • how to deduct losses and
  • vacation home and tax-free rental rules.

This book focuses on the unique tax issues arising from renting residential or vacation property through online rental platforms like Airbnb, FlipKey, TripAdvisor, Craigslist, and VRBO. Every short-term rental host needs to understand these tax rules to ensure they take all the deductions to which they are entitled, pay no more tax than is legally required, and stay out of trouble with the IRS. This book provides all of this information in a practical, easy-to-understand way.

Product Details

ISBN-13: 9781413325515
Publisher: NOLO
Publication date: 08/30/2018
Edition description: Second Edition
Pages: 208
Sales rank: 461,814
Product dimensions: 7.00(w) x 8.90(h) x 0.50(d)

About the Author

Stephen Fishman has dedicated his career as an attorney and author to writing useful, authoritative, and recognized guides on business, taxation, and intellectual property matters for small businesses, entrepreneurs, independent contractors, and freelancers. He is the author of 20 books and hundreds of articles, and has been quoted in The New York Times, Wall Street Journal, Chicago Tribune, and many other publications. Among his books are Every Landlord’s Tax Deduction Guide, Deduct It! Lower Your Small Business Taxes, and Working for Yourself:Law & Taxes for Independent Contractors, Freelancers & Gig Workers of All Types, published by Nolo. You can visit Stephen’s website at www.fishmanlawandtaxfiles.com.

Table of Contents

1. Introduction: Who This Book Is For

2. How Short-Term Rental Hosts Are Taxed

3. Tax-Free Short-Term Rentals

4. Deducting Your Expenses: The Basics

5. Operating Expenses

6. Repairs

7. Deducting Long-Term Assets

8. Prorating Your Deductions

9. Reporting Rental Income on Your Tax Return

10. Filing IRS Form 1099 Information Returns

11. Deducting Losses for Short-Term Rentals

12. Record Keeping

[Checklist about the various tax deductions available and how to deduct losses.]



Renting your main home, vacation home, or other residential property through short-term rental hosting websites like Airbnb, FlipKey, HomeAway, TripAdvisor, or Craigslist is a great way to earn extra income. However, how much money you actually end up pocketing depends on the taxes you must pay on the rental income you earn.

Complex tax rules apply to short-term residential rentals. In some cases, the income you earn from renting your home can be completely tax free. On the other hand, some short-term landlords have to pay not only income tax on their profits, but Social Security and Medicare taxes as well. If you don’t take all the deductions to which you’re entitled, you’ll pay more tax than you need too—something the IRS will never complain about! If you incur losses, you’ll need to jump through a series of legal hoops to deduct those losses from the other income you earn.

There are many books that explain how to market and efficiently run short-term rentals. But this is the only book that is dedicated to showing you how to maximize your profits by minimizing the taxes you must pay on your rental income.

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