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    Tips and tools for filing your taxes

    Tips and tools for filing your taxes

    Find out what forms, earnings reports, and more you need to handle tax season.
    Bài viết của Airbnb, đăng ngày Feb 24, 2021
    Bài đọc 5 phút
    Đã cập nhật vào Mar 10, 2021

    Highlights

    • Whether you receive a Form 1099-K from Airbnb depends on your status as a host

    • It’s possible that not all of your Airbnb income is taxable—you may be able to deduct some expenses

    • Review your Earnings Summary for more info

    When you make money sharing a space on Airbnb, filing your income taxes can be confusing—but it doesn’t have to be a roadblock to a successful hosting experience. And while we aren’t able to provide tax advice, we can shed light on a few key topics to help you get started.

    "I've been listing my space for a little over a year, so I understand how overwhelming filing your income taxes as a host on Airbnb can be," says Oliver from Brooklyn, New York. But, he adds, with the right systems in place and a strong understanding of how to access important financial documents, you’re closer to completing your taxes than you might think.

    Understanding U.S. income tax

    Whether you list a single room, an entire apartment, or a treehouse on Airbnb, the money you earn through your listing may be subject to U.S. taxes if:

    • You’re a U.S. citizen or permanent resident hosting in the U.S. Even if you currently live outside of the U.S., you may need to pay income taxes on your U.S.-based listing.
    • You’re a U.S. citizen or permanent resident hosting outside of the U.S. For example, if you’re a U.S. citizen living in Massachusetts and you list your place in Barcelona, the money you earn from your listing may be subject to U.S. income tax.
    • You’re a non-U.S. citizen hosting in the U.S. If you’re a Canadian citizen listing your New York loft, for instance, the money you earn from your listing may be subject to U.S. income taxes.
    It’s important to remember that there are some exceptions to this, including hosts who use their space as their residence and host less than 15 days during the year. We encourage you to speak with a tax professional for help with your specific situation.

    Accessing your tax forms

    One of the tax documents many hosts ask about is the Form 1099-K, which is an IRS information return used to report certain payment transactions, such as sharing a space on Airbnb. Whether you receive a Form 1099-K from Airbnb depends on a few factors.

    For example, Airbnb will send you a Form 1099-K if all of the below apply:

    • You’re a U.S. citizen, U.S. resident alien, or operating as an entity organized in the U.S. or under the laws of the U.S.
    • Your gross earnings for the previous calendar year exceeded $20,000
    • You had 200 or more transactions during the previous calendar year

    In this case, the form will be available in your account under Payments & payouts—typically in late January—so you may want to pay close attention to your inbox during this time. We’ll also mail a copy to the address you provided in your taxpayer information, unless you chose electronic delivery only.

    Another example of when Airbnb will send you a Form 1099-K is if you meet your resident state’s 1099-K minimum—or what they call a “filing threshold.” Please note that your resident state may have a reporting threshold lower than the federal IRS minimum. If you’ve met your state’s threshold, you’ll receive a printed form that’s been filed with your state.

    Other tax forms to consider: 

    • Form 1042-S: For hosts who are non-U.S. taxpayers and reside outside of the U.S., but earn income on U.S.-based listings and have submitted a Form W-8ECI, Airbnb will mail a Form 1042-S by mid-March each year to the address you provided in your taxpayer information.
    • Form 1099-MISC: Hosts who receive $600 or more in other reportable income, such as awards and promotional payments from Airbnb, will receive a Form 1099-MISC from Airbnb. We’ll send an email notification when this is ready to review in your account, under Payments & payouts, typically in late January of each year. We’ll also mail a copy to your designated address.
    • Form 1099-NEC: Airbnb service providers, including photographers and translators, who have earned $600 or more in the calendar year will receive a Form 1099-NEC from Airbnb. Like the 1099-MISC, we’ll send an email notification when your 1099-NEC is ready to review in your account, typically in late January, and also mail a copy to you.

    Learn more about receiving your tax forms

    Finding your Airbnb earnings

    Even if you don’t receive a form from Airbnb, you need to consider your total amount earned from the year and determine what to report on your U.S. income tax return. For that reason, we strive to make finding your Airbnb earnings as simple as possible.

    All transactions paid out in a calendar year are listed in your Earnings Summary, including both net and gross earnings.

    • Gross earnings: Your gross earnings are the total amount earned before considering any tax withholdings or adjustments—like Airbnb service fees and reservation cancellations—that may have reduced your payouts throughout the year.
    • Net earnings: Your net earnings are the gross amount of earnings received, minus Airbnb service fees and any adjustments (reservation adjustments, guest refunds, etc.).

    If you’re looking to dive a little deeper, you can filter your transactions by payout method, listing, and date in your Transaction History. You’ll also have the option to download a .csv file that can be opened by standard spreadsheet programs like Microsoft Excel, Google Docs, or Apple Numbers.

    Learn more about finding your earnings for tax purposes

    Calculating your deductions

    It’s possible that not all of your Airbnb income is taxable. As you begin the filing process, don’t forget to consider whether there are expenses that you may be able to deduct, including:

    • Your monthly rent or mortgage payment
    • Utilities, like gas, electricity, and internet used during stays
    • Property insurance
    • Repairs, like the cost to fix a broken window or leaky faucet
    • Cleaning services and supplies
    • Registration fees for educational events on property management

    Example: You list the spare room in your house. The spare room is 200 square feet and the rest of the house is 800 square feet. You incur the following expenses:

    • Repainting the spare room: $500
    • Replacing broken window in the spare room: $500
    • Property tax and mortgage interest: $5,000
    • Internet, electricity, and water: $1,000

    Expenses for painting and replacing a broken window in the spare room are exclusively related to the rental part of your house, so in this example, these expenses are fully deductible rental expenses.

    Expenses for property tax, mortgage interest, internet, electricity, and water are not exclusively for the rental part of your house, but for the entire house. You may have to prorate these expenses based on a reasonable method, as discussed in the complete example cited in Ernst and Young’s U.S. “General guidance on the taxation of rental income” report.*

    Filing your taxes successfully

    We hope these resources help you navigate tax season with more confidence. You may also find other helpful information in Ernst and Young’s report, which was prepared on behalf of Airbnb.*

    Above all else, we encourage you to reach out to a tax advisor for support. This is an important process with many special rules to consider, and we want all hosts to be set for success, year after year.

    *Disclaimer: Airbnb's presentation of EY is not an endorsement. Tax advice is complicated, and you should do your own diligence when receiving advice. Airbnb is not responsible for any tax or other advice provided by any outside entity.

    Highlights

    • Whether you receive a Form 1099-K from Airbnb depends on your status as a host

    • It’s possible that not all of your Airbnb income is taxable—you may be able to deduct some expenses

    • Review your Earnings Summary for more info
    Airbnb
    Feb 24, 2021
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