Hi all, I have a big important question concerting Taxes in Texas.... Help!

[Jennifer5138]

In Jan -July of 2024 previous owner was using property as airbnb and made 22,000 then we bought it in August and used it as an airbnb tilldec 2024. When i received Tax info its expecting me to pay for  his huge earnings while i made 5,000. Please help on how this is right?

[Mike-And-Jane0]

@Jennifer5138 it is not allowed to transfer the Airbnb account from the seller to the purchaser. If you have circumvented this rule then Airbnb will not know anything other than passing the earnings info to you.

If however you started a new listing as per the rules then only your income should be taxable by you.

Finally if its a registered business that you have bought then any tax liabilities should have been sorted out in the purchase contract.