Question

AirBnB Expenses for home interest and taxes

Forum|Forum|2 years ago
February 7, 2024
1 reply
0 views

Part of my house is an AirBnB. I deduct a portion of my home interest expenses and my home taxes. When I enter my Interest and Home tax expenses for the home do I enter the total or do I need too deduct what I expensed from my AirBnB?

V

Vanessa A

You need to deduct the portion that you used for expenses on your AirBnB. If you did not deduct it, you would be getting a double benefit from the interest and taxes which is against IRS rules.

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M

mgjerstad-yahoo-Author

Thank you. Not sure why TT wouldn't know it was a deduction and then lower it through the app, so it would not be counted twice. Seems like a simple fix. I'll make sure to do the calculations myself 🙂

Cheers,

Michael