Tax help

[Cheyenne83]

I currently have a listing that I manage for a family friend. They own the home. For tax purposes, how do I make sure it’s set up correctly? I’ve had it listed under my profile, they don’t have one set up. Next best steps?

[Helen3 · Accepted solution]

You should have helped the owner set the listing up under their profile with yourself added as the cohost so the owner pays tax on the majority of the income and you only pay tax on whatever cohost fee you arranged with the owner @Cheyenne83 

I am not sure how you fix this for tax purposes.

[Cheyenne83]

Shoot, I was hoping this was not the case. So we probably have to recreate the listing? @Helen3

[Alex]

Hi @Cheyenne83, 

I hope this is okay with you, but I mentioned your comment to Helen to see if this way, you can continue the conversation with her. 🙂

Hope this helps you!

Best, 

Alex