Question

kim has residential property listed for rent through a vacation rental platform. she performs substantial services gor the property. if the property is rented for 45 days during the year and she didnot receive form 1099 K where is the income recorded on her return

Answer 1

If the property is used for rental platform and have the following circumstances

1) Rented for more than 14 days

2) gross payments exceeds more than $20,000

3) more than 200 transactions you will receive 1099 k form

if you did not receive 1099 k form the amounts related to rental activity are reported on Schedule E of 1040 return.

If the owner provides substantial services, then it is to be reported on schedule C of your 1040 return

Here, Kim earns vocational rental income providing substantial services and does not receive 1099k form. Hence, the income is to be recorded on Schedule C of her return.