I apologize if this is redundant, but I have seen mixed reviews on how Airbnb handles income tax for hosts. I listed an In-law suite on my property in Georgia about 1.5 months ago, and so far Airbnb is remitting occupancy taxes on my behalf but not collecting income tax. It would be nice to have them withhold so I don't have to worry about it come tax season, does anyone know what the rules are for this year? Any guidance is greatly appreciated!
Airbnb cannot do your income taxes because what you receive in rent has to be adjusted by your particular expenses and you pay tax on the profit received,Maybe at least for the first year get a tax accountant that can educate you. Probably finding one now would be helpful identifying expenses you aren't aware you can minus