Didn't receive 1099-K

[Richard2715]

I filed an extension of my taxes because I was not ready to file my taxes just yet. I made the amount that I owe to the IRS. I only made about $8000 last year with about 40 different booking. What should I do about this?

[Pat271]

@Richard2715 

Not sure I understand your question, but in a nutshell you need to declare all of your rental income, and then itemize each qualifying expense you incurred. There are forms provided by the IRS in which you can enter all of this. Or, you can use something like TurboTax which will guide you through it.

What you made as rental income isn’t related to what you already owe the IRS, i.e. you can’t use one to cancel out the other.

[Mike-And-Jane0]

@Richard2715 Don't expect a 1099-K. The rules changed back to the old rules for the last tax year so you probably won't get one. Of course you still owe the tax on your earnings.

[Helen744]

@Richard2715 Look up the tax department guides.as everyone commented your deductions may out weigh your taxables and you may end up with a carry over loss but this only goes forward not backwards.So pop down to your local tax agent ,take all the reciepts that you have and maybe you will still owe the tax department and maybe you wont. ring them ... H

[Lorna170 · Accepted solution]

@Richard2715   AirBnB got an extension on the reporting requirement so you will not have received a 1099-K for 2022 income as you did not meet the federal threshold.

If your income is a pass-thru on your individual 1040, you need to complete Schedule E declaring your rental income and expenses.  The list of expenses is pretty self-explanatory and the IRS instructions are not too difficult to read (if lengthy).  If you have questions, I suggest you have an accountant assist you with your filing.