Looking for Airbnb and house hacking CPA

[Curtis Towers]

Hello, I live in a single family home that’s split off. I live in one side and have the other on Airbnb. I’m looking for a CPA to help with taxes. I live in Fort Worth, TX.

[Ryan Thomson]

Hey @Curtis Towers I don't have an accountant, but here is some things to think about when you talk to a CPA.

I've actually done a couple househacks with airbnbs myself and just met with my accountant today to get ready for filing 2021 taxes. We talked about a lot of what your question asks.

Things to consider with your taxes though.

1. Use an accountant to file your taxes. They are worth every penny.

2. While I lived in my house hacks I was able to depreciate the percentage of the square feet of the home that was occupied by my tenants. This was while I lived there. Once I moved out (to the next house hack) I was able to start depreciating the full value. In addition to depreciating that percentage you can also deduct expenses that are for the whole house at that same percentage while you live there. E.g. repairs, supplies, etc.

3. Make sure you talk to your accountant about Qualified Business Income Deduction (QBID). It basically allows for your first 20% of rental income to be tax free.

4. If you want to scale, and cancel out the mortgage debt on your DTI I would recommend showing income on your taxes.

Butttt I'm not an accountant so these are just ideas.  :)