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Tax question

‎23-03-2021 06:28 PM
Oscar732
Level 1
‎23-03-2021 06:28 PM

Tax question

After a booking is scheduled and completed there is a tax dollar amount deducted from the payout.

At the end of the year when it’s time to report to IRS of all my earnings for the year do I still pay additional taxes for that money I earned?

 

‎23-03-2021 06:28 PM
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‎24-03-2021 04:59 PM
Linda108
Level 10
‎24-03-2021 04:59 PM

@Oscar732   I would assume you are to pay taxes on your earnings.  If Air BNB is collecting occupancy taxes for your area, that is what is backed out each reservation.  Air BNB does not withhold income taxes like an employer.  Hope that helps. 

‎24-03-2021 04:59 PM
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