Hello,
I am brand new to hosting with Airbnb. I live in SC so Airbnb automatically takes the taxes out for me. The space I rent out is my primary resisdence. However when my son is not home, I rent the entire house out. I have read that as long as I don't rent the house out for more than 14 days I don't have to claim the house as a rental. My question is, if I do rent the house out for more than 14 days, what exactly changes for taxes next year. What do I have to do differently, will I be penalized in anyway? Random questions like that. The house is still my primary residence year round, I just have availability to stay elsewhere when my child is gone and I can rent the house out for some extra money.
Thank you for any input.
Maegan
