"Maximize your income while avoiding problems with the IRS"--Cover. Includes index.
Contents:
Introduction : who this book is for -- How short-term rental hosts are taxed -- Tax-free short-term rentals -- Deducting your expenses : the basics -- Operating expenses -- Repairs -- Deducting long-term assets -- The pass-through tax deduction -- Prorating your deductions -- Reporting rental income on your tax return -- Filing IRS Forms 1099 information returns -- Deducting losses for short-term rentals -- Record keeping.
Summary:
"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"-- Publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.