Post by High Priestess on Feb 10, 2016 15:53:01 GMT
Here's some info from a host posted on the COmmunity Center:
community.airbnb.com/t5/New-to-Hosting/Does-Airbnb-send-the-IRS-any-info-when-less-then-20-000-is/m-p/27939#U27939
Lubov:
Does Airbnb send the IRS any info when less then $20,000 is earned? [ New ]
Its Tax time and I do my own taxes (turbo tax), does anyone know if the IRS gets info from Airbnb regarding host income if the income was less than 6000. I saw that airbnb issues a form to hosts if they earned $20,000 and/or had 200 bookings...
Any input would be greatly appreciated.
Melisa
I'm trying to figure this out as well. I had just under 5k income from renting out a second bedroom in my home (33 reservations/121 nights). This would be my only US income for this year so I want to know if I need to do taxes or not. Hoping for an answer...
Luis & Tati
Hi @lubov and @melisa
No, Airbnb will not send any information to the IRS for hosts that made under 200 reservation/transactions or under $20k..
If you made over $20k and less than 200 they will not send anything as well…
You need to reach the two criteria than they will send it to IRS along with a 1099 to you…
Is your responsibility to report your earnings to the IRS
This is their response to me...
"Airbnb has reported the payouts and issued a tax form to *************. This was the only taxpayer that earned $20,00 and had over 200 payouts. Both metrics must be met to be issued a form.
Your other taxpayers will not receive a form from Airbnb and we will not report their payouts. As a reminder, you’re responsible for reporting your 2015 Airbnb earnings.
Last year, we received from the Internal Revenue Service new information on income reporting for Airbnb hosts. Based on this information, Airbnb is required to comply with Section 6050-W of the IRS code which means only hosts who earn more than $20,000 and host more than 200 reservations in a calendar year will receive a Form 1099-K."
community.airbnb.com/t5/New-to-Hosting/Does-Airbnb-send-the-IRS-any-info-when-less-then-20-000-is/m-p/27939#U27939
Lubov:
Does Airbnb send the IRS any info when less then $20,000 is earned? [ New ]
Its Tax time and I do my own taxes (turbo tax), does anyone know if the IRS gets info from Airbnb regarding host income if the income was less than 6000. I saw that airbnb issues a form to hosts if they earned $20,000 and/or had 200 bookings...
Any input would be greatly appreciated.
Melisa
I'm trying to figure this out as well. I had just under 5k income from renting out a second bedroom in my home (33 reservations/121 nights). This would be my only US income for this year so I want to know if I need to do taxes or not. Hoping for an answer...
Luis & Tati
Hi @lubov and @melisa
No, Airbnb will not send any information to the IRS for hosts that made under 200 reservation/transactions or under $20k..
If you made over $20k and less than 200 they will not send anything as well…
You need to reach the two criteria than they will send it to IRS along with a 1099 to you…
Is your responsibility to report your earnings to the IRS
This is their response to me...
"Airbnb has reported the payouts and issued a tax form to *************. This was the only taxpayer that earned $20,00 and had over 200 payouts. Both metrics must be met to be issued a form.
Your other taxpayers will not receive a form from Airbnb and we will not report their payouts. As a reminder, you’re responsible for reporting your 2015 Airbnb earnings.
Last year, we received from the Internal Revenue Service new information on income reporting for Airbnb hosts. Based on this information, Airbnb is required to comply with Section 6050-W of the IRS code which means only hosts who earn more than $20,000 and host more than 200 reservations in a calendar year will receive a Form 1099-K."