Skip to main content
March 24, 2023
Question

I have a rental and got a 1099K from Airbnb. I rented only 5 days in 2022. It says I can't use a schedule E. How do I get rid of it and how do I report the 1099 K?

  • March 24, 2023
  • 1 reply
  • 0 views
Get rid of it in my turbo tax return I mean.

1 reply

March 24, 2023

You are not supposed to report rental income or deduct rental expenses if you rented the property out for less than 15 days during the year, that is why TurboTax is saying you can't use schedule E. 

 

You aren't required to enter the income on your tax return, however the IRS may question you about the 1099-K income if you don't enter it. If you do enter it, you should choose the Other Income option for the type of income. That will result in the income being reported as such on your tax return. You can then enter a negative amount to Other Income to cancel it out by following these steps:

 

  1. Choose the Federal option on your left menu bar
  2. Choose Wages & Income
  3. Find Less Common Income in the list of income sources
  4. Use the Show More option to expand the choices and choose Miscellaneous Income, 1099-A, 1099-C
  5. Choose the Other Reportable Income option and find Other Taxable Income in that section
  6. Enter a description for entry and the amount as a negative number
**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"