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Podcast: Belk on Business
Episode: Taxation of Short-Term Rentals – Episode 138
Description: Taxation of Short-Term Rentals – Belk on Business – Episode 138
Note: Not giving specific tax advice. Meant to be a high-level primer of some of the basics. Consult your own tax professional for specifics as it relates to your tax situation.
Generally rental income from single family rentals in a traditional sense if a residential property is considered passive. Not subject to self-employment tax and has loss limitations based on hours of activity, real estate professional status and tax structure.
Short-term rentals (Airbnb, VRBO, etc.) are
1) Active is rental period is less than seve...