How do I get credit for the occupancy tax deducted by AirBnB? Did not receive 1099
I have 1 AirBnB rental. Did not meet the AirBnB's required 200 transactions to receive a 1099. But they did deduct close to $700 in occupancy taxes". The problem is - where do I add this amount in my 1040? I know it does not go under the rental "expenses". I use H&R Block software to do my taxes. I do not see any place where I can add the $700 as tax paid. Please help.
@Jomy2 It should be listed on your Schedule E as taxes (a deduction) on Line 16. You do have to make sure that the taxes paid are included in the figure that you entered as your Rental Income on Line 3.
I recommend that anyone who is new to hosting and earning income from a rental property meet with a tax professional to educate themselves on how to complete their taxes. Happy Renting!
