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Updated 8 months ago, 04/18/2024
AirBnb Expense Writeoff
Hello, I started my first AirBnb late 2023 and it was rented out for less than 14 days. Based on the 14-day rule, I don't need to file any profit from my short term rental. However, my main expenses (furnishing the property, repair and renovation) happened in 2023. If I did not report expense for my 2023 tax, how would I write off my huge expense (~20K) for my future profit then? Thanks.