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I rent an apartment for the sole purpose of renting it to guests via AirBnb. I registered a trade name expecting to identify expenses and income as Business Income.
I rent a bachelor apartment for the purpose of renting to guests at a nightly rate. I do not live at said apartment, and it is occupied about 75% of the year. I expected to identify profits as business income, and also to deduct expenses such as rent, internet, supplies, laundry etc. I also began property management activites for separate property in December. To this end I registered a business trade name and identified business activities as Property Management. Other users have indicated that AirBnb is regarded as Rental Income and not Business Income. How should I identify my expenses and income?
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‎October 29, 2019
8:11 PM