W-9 tax classification

Caitlin70
Level 1
Princeton, NJ

W-9 tax classification

Hi, I am a young college student, renting out my private room on airbnb. I will be renting it for more than 14 days of the next year, but do not plan to have substantial business (class E rental.) I do not have any other income at the moment. What is my tax classification? The choices are individual/sole proprietorship, C corporation, S corporation, partnership, trust/estate, LLC single member, and exempt payee. My airbnb is located in Central New Jersey, but my taxes will be filed to the home I grew up in located in Indianapolis, Indiana. Thank you!

2 Replies 2
Rebecca181
Level 10
Florence, OR

@Caitlin70 There is a LOT of misinformation out on the internet on this subject. It is wise of you to think about this early on. You would file a Schedule E. There is a choice between 'for profit' or 'passive income'. If it were me, I'd go to H & R Block and let them guide you on this your first year; they are far more knowledgeable than Turbo Tax and most CPAs I have met. You also have the option of deferring for 3 years whether or not you are operating as a for-profit or not as a Schedule E (special form needs to be filed). You would not be a Schedule C unless you are providing 'special services', e.g., cleaning room while guests are there; feeding them; shuttling them around town, etc. Hope this helps!

Hans185
Level 2
Atlanta, GA

Your tax classification is " individual/sole proprietorship".

The other reply looks like spam for H & R Block.