Re Investor
“I regularly rent out a spare room in my house on Airbnb, how do I accurately report the income and what specific household expenses can I legally deduct?”
Short-term rental income from a spare room is often reported based on how the space is used, how many days it is rented, and whether any personal use is mixed in. The treatment of household expenses can depend on the portion of the home used for the rental, the length of each stay, and whether items like utilities, insurance, repairs, cleaning, and depreciation are tied to the rented area. Records from Airbnb, bank deposits, calendars, and receipts often help show both income and the allocation of shared costs. Working through the specifics with a CPA is the cleanest way to land on the right move.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I successfully refinanced my investment property and pulled out cash to buy another one, is that massive cash out legally considered taxable income?”
“I sold a rental property that I fully depreciated over the last twenty years, how exactly does depreciation recapture work and how much will it cost me?”
“I bought a duplex and live in one half while renting out the other, how do I properly split the property taxes and depreciation on my tax return?”
“I use cost segregation to accelerate the depreciation on my apartment building, will this aggressive strategy drastically increase my chances of an IRS audit?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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