Can I expense my mortgage and HOA fees for my Airbnb business?

Yes, if you own a rental property that you rent through Airbnb, the mortgage interest and HOA fees for that property are considered to be rental expenses.

If you are renting a portion of your own home where you live, then the mortgage interest and HOA fees will be prorated based on the portion of the home that is considered a rental property versus the portion of the home that is your residence.  For example, if you rent 25% of your home, then you can claim 25% of the mortgage interest and 25% of the HOA fees as a rental expense.  The other 75% is a personal expense.  The 75% of the mortgage interest that is personal can be claimed on Schedule A as an itemized deduction for your personal residence.

To further clarify, you can *NOT* expense your mortgage. You can only claim the mortgage interest paid. The pprogram will ask you for this in the expenses section. The HOA fees can be entered at the end of the expenses section as a miscellaneous expense.