Short-Term Rental Tax Guide

Exam Questions: 40
Course Level: Basic
Pages: 182 | Content: 168, Supplemental: 14
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 8250

Short-term rentals entitle hosts to take advantage of a variety of deductions and other tax benefits. Whether they are renting through Airbnb, FlipKey, TripAdvisor, Craigslist, or VRBO, it is important to understand the tax rules specific to this market, including the 20% pass-through deduction. This course will address which expenses can be deducted, how to report the income, how to deduct losses, and vacation home and tax-free rental rules. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00528-23-S

Choose Your Format to ADD TO CART:

Go to CART

Course Information

Table of Contents
  • How Short-Term Rental Hosts Are Taxed
  • Tax-Free Short-Term Rentals
  • Deducting Your Expenses: The Basics
  • Operating Expenses
  • Repairs
  • Deducting Long-Term Assets
  • The Pass-Through Tax Deduction
  • Prorating Your Deductions
  • Reporting Rental Income on Your Tax Return
  • Filing IRS Form 1099 Information Returns
  • Deducting Losses for Short-Term Rentals
  • Recordkeeping
  • To recognize how short-term rentals are taxed
  • To identify tax-free situations
  • To recognize what qualifies as rental expenses
  • To recognize what expenses qualify as current
  • To differentiate repairs, betterments, and improvements
  • To recognize how depreciation is handled
  • To recognize how pass-through deductions are handled
  • To identify which expenses can be prorated
  • To recognize how to file a Schedule E
  • To recognize how to file a Form 1099-NEC
  • To identify how to handle deduction on multiple properties
  • To recognize how to track income and expenses

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.