As an Airbnb host, you have the opportunity to claim a variety of tax deductions to reduce your taxable income. Here's a rundown of the most common write-offs you can take advantage of.
This is the fee charged by Airbnb for using their platform. It's a necessary expense for your business, so don't forget to deduct it.
How to write it off: Report this on Schedule C, Box 10 of your tax return.
Did you know that meals you provide for your guests can be written off? Yes, those breakfast muffins and coffee count!
How to write it off: Include these expenses on Schedule C, Box 24b.
If you use your car for business purposes, such as picking up supplies for your Airbnb, you can deduct your car insurance and registration costs.
How to write it off: Report these expenses on Schedule C, Box 15.
Keeping your Airbnb spotless and your linens fresh is a must. Good news is, these expenses are deductible.
How to write it off: Include these costs on Schedule C, Box 22.
Those little extras you provide to make your guests' stay more enjoyable? They're not just good hospitality, they're also tax deductible.
How to write it off: Report these expenses on Schedule C, Box 22.
If you've furnished a space in your home specifically for managing your Airbnb business, you can write off the cost of that furniture. Comfort and style can indeed come with benefits!
How to write it off: Include these expenses on Schedule C, Box 18.
Security is paramount in the Airbnb business. The cost of lockboxes and keys for your property is a deductible expense.
How to write it off: Report these costs on Schedule C, Box 27a.
Keeping your property in tip-top shape or giving it a fresh new look? These maintenance or redesign costs can be written off.
How to write it off: Include these expenses on Schedule C, Box 21.
If you're traveling for your Airbnb business, your meals on the road can be deducted. It's a tasty deduction indeed!
How to write it off: Report these expenses on Schedule C, Box 24a.
Parking fees incurred for your Airbnb business are deductible. It's one less thing to worry about when finding a spot for your car.
How to write it off: Include these costs on Schedule C, Box 27a.
Keeping the lights on for your guests? Your power bill is a necessary expense for running your Airbnb and can be deducted.
How to write it off: Report this on Form 8829 of your tax return.
Insuring your property is a smart move and a deductible expense. It's a win-win situation for you as an Airbnb host.
How to write it off: Include this expense on Form 8829.
Advertising your property to attract more guests? Those promotion costs can be written off. It's all about getting your name out there!
How to write it off: Report these costs on Schedule C, Box 8.
Any repairs you make to keep your property in great condition for your guests are deductible. It's all part of maintaining your business.
How to write it off: Include these expenses on Schedule C, Box 21.
If you're driving for your Airbnb business and encounter toll roads, those fees can be written off. Every penny counts!
How to write it off: Report these costs on Schedule C, Box 27a.
Whether you're traveling to meet with potential guests or going to the store for supplies, your transportation costs are deductible.
How to write it off: Include these expenses on Schedule C, Box 24a.
If you need to stay overnight somewhere for your Airbnb business, your lodging costs can be written off. It's all part of doing business!
How to write it off: Report these costs on Schedule C, Box 24a.
Utilities are a necessary expense for running your Airbnb and can be deducted. This includes everything from water to garbage disposal.
How to write it off: Include these costs on Schedule C, Box 15.
If you've purchased a tool kit for your vehicle that's used for your Airbnb business, you can write off the cost. It's all about being prepared!
How to write it off: Report these costs on Schedule C, Box 22.
Water is a basic necessity for any home, including your Airbnb. You can deduct your water bill from your taxable income.
How to write it off: Include this expense on Form 8829.
Providing Wi-Fi for your guests? That's a cost you can write off. After all, everyone needs to stay connected!
How to write it off: Report this cost on Schedule C, Box 25.