Taxes are coming up and looking to engage with a tax specialist soon, but curious to hear where you folks list the income if you do this part time in your home? Do you list your income in Schedule E (Rental Property) or Self-Employment income?
Anyone have any guidance on this?
Hi Karen, I’m not a Tax Specialist but Peerspace sends out a 1099-MISC. This question really depends on if you are reporting as a business or individual. You can check out this link from the IRS they cover a few different scenarios.
i am also doing this part time in my home, and have the same question.
Same question. Since most of these rentals don’t involve an overnight stay, does it even count as rental income?
I.e., If I rent my place for 1 hour one day, and 1 hour another day, does this count as two days against my under 15 day reporting exemption for rental income? Is a day use rental treated the same way as an overnight rental?