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How to Rent Out Your Home Tax Free

That property you're renting out on Airbnb may create tax-free income.

This video was originally published on TheStreet Jun. 8, 2022.

Many folks are renting out their home or parts of their home as an Airbnb. Here are a few questions to ask yourself to determine what you need to do about recording and reporting income and expenses (and possibly avoid taxes!).

  1. Is this your primary residence or is this a secondary residence? 
  2. Are you renting out the residence for less than two weeks, or more? 
  3. Are you renting out the entire residence, or just a part of it?