In pursuit of financial independence and personal fulfillment

Category: rental real estate

Should I file my Airbnb or nightly rental income on Schedule C or Schedule E?

Should I file my Airbnb or nightly rental income on Schedule C or Schedule E?

Ask two dozen CPAs that question and you’ll probably get a pretty even split. Ask them why they think that and you’ll probably get half a dozen different answers, but the biggest thing you’ll hear is: “It’s a gray area.”

I looked all over the Internet for the definitive answer, and what I found was absolute chaos. So, of course, I had to do my own research to figure out which side of chaos felt right for me. Unlike a lot of the posts I read while trying to sort it out, I’m going to show my work so you can decide for yourself where you fit. Continue reading

We *gulp* bought our first rental property

Have you ever heard the saying, “You make your own luck”? My wife set out to prove it true, and at the end of that maxim’s rainbow we found ourselves the happy owners of our dream rental property that was never even on the market.

There are a lot of ins and outs to how this happened, but I think there are lessons for many of my readers all along the way, which is why this seemed like the perfect post to bring me out of my long blog hibernation. Continue reading

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