3 ms·
So in other words, someone can rent out a property for a small portion of time on airbnb, while living it in the rest of the time, and yet count everything spen
by anovikov 1y ago
So in other words, someone can rent out a property for a small portion of time on airbnb, while living it in the rest of the time, and yet count everything spent on it as a deductible business expense?
- Spooky23 1y agoYou can’t live in it. Average stay is has to be <7 days. It makes sense to do if you’re in the 35% bracket. You buy a condo or a house. So you buy a house, airbnb it for one year, then rent for 2-5 more. Then you 1031 exchange it and do it again. If you don’t trade up, you have to keep the property or they recapture the bonus depreciation on a prorata basis later. Airbnb hasn’t been about couchsurfing in a long time. It’s a mechanism to monetize real estate under more favorable tax rules.
- anovikov 1y agoIsn't this a very US-centric view? I mean, Airbnb operates worldwide.