Schedule E or Self-Employment?

#1

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?

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#2

Anyone have any guidance on this?

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#3

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.

https://www.irs.gov/faq-index-search?search=+1099-MISC

https://www.irs.gov/forms-pubs/about-form-1099-misc

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#4

i am also doing this part time in my home, and have the same question.

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#6

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?

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