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March 9, 2025
Question

AirBnB

  • March 9, 2025
  • 1 reply
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I have 2 Airbnb's. In sch D it has rental income in line 3 Rents Received ($32,197). Then in form 8592 it shows $32,515 in rental income. Why is it counting twice?

    1 reply

    March 11, 2025

    Do you mean Schedule "E" and Form "8582"?

    Form 8582 isn't directly reporting the income.  It is shows HOW to deal with that income.

     

    The fact the amount on Form 8582 is almost the same as the gross rents on Schedule E is odd.  Did you have expenses for the rental?  Maybe there is another explanation for the almost-same numbers, but it almost seems like you didn't report any expenses.

     

    You said these are AirBnBs.  Is the average rental period 7 days or less?  Do you "Materially Participate" in each rental?  If both answers are "yes", there shouldn't be a Form 8582 at all because it is non-passive.   TurboTax doesn't really support that situation (online doesn't support it at all, and the CD/downloaded version you need to manually go into the forms/worksheets to change something).  You may consider a tax professional