Let’s say you went on vacation for a couple of weeks, and, thanks to companies such as Airbnb, you managed to find a short term renter and received some Airbnb rental income for 5 days while you were gone. A little extra income never hurt anyone right? Well, in this case, you are right.

If your only Airbnb rental income was during that one trip, you would have rented out your home for less than 15 days during the course of the year. Assuming it’s your primary home/residence, then you have nothing to worry about. If your home is rented for less than 15 days, you should not report any income or expenses on your tax return. Even if you reside in a 3,000 sq ft property, the same rule would apply. The amount of income you get from the property is irrelevant. Instead, the amount of days you rented the property is the deciding factor.

As soon as you hit the 15 day mark, all income and expenses will be required to be reported. Airbnb rental income is no exception. Be sure to check out my article on what you need to know when renting your home for some general information that could help you. Please keep in mind that this article only refers to your federal income tax liability. It’s possible, depending on the state, that you may be responsible for occupancy/sales (or other) taxes even if you rent your home for less than 15 days. If you still need help with your tax return, be sure to contact me.