Income & tax liability for two unmarried hosts

[Alex9942]

Hi! My best friend and I co-own a property and we want to host a listing. Can we both have our SSNs on the account so that we both receive payouts and tax reports? Do we have to set up an LLC with an EIN in order to share the income and tax liability for a listing? d

[Mike-And-Jane0]

@Alex9942 In the latest (Summer 2023) improvements  for hosts Airbnb allows payments to be split between the host and co-host which would, I think, ensure both of you get the correct tax treatments. Have a look at the new tools as I haven't looked at this one yet.

[Alex9942]

Thanks Mike & Jane!

[Lorna170 · Accepted solution]

@Alex9942  Speak to an accountant.  Yes, an LLC with an EIN may be your best and safest option for many reasons.  The listing payout can go to the LLC bank account and be shared as agreed upon.  

If you are able to do split payments as @Mike-And-Jane0  said were possible through the updated AirBnB programming, you need to discuss (again with an accountant) how to share the expenses of the property as well.

[Alex9942]

Thanks Lorna!