Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

218
Posts
225
Votes
Jeff Piscioniere
  • Investor
  • Shelton, CT
225
Votes |
218
Posts

Figuring taxes on Airbnb income

Jeff Piscioniere
  • Investor
  • Shelton, CT
Posted

Hello all and thank you in advance for any help and info you might offer.  My wife and I are new overnight vacation rental owners of a cabin in Gatlinburg, TN.  We just closed out our first month of rental (June) and I need to pay my taxes to both the state and the local municipality.  Airbnb does not allow for adding a tax rate to the property's listing (unless I'm missing something, please enlighten me!).  I owe a combined 12.75%.  Technically in my booking rate/fees the taxes are added in.  Now I need to figure out how to back track on my income to figure what it would be if the 12.75% were not added in.  Example: $1000 ending deposit for the month; what is the income before the 12.75% which should have been charged to the guest be...$870-890 approx. range???  I actually figured an equation to get it where X is the amount I'm looking for:

X + (X * .1275) = $1000

Loading replies...