All Forum Posts by: Anna Antipkina

Brian is spot on. I bought my STR in Ludlow on 2022 and have yet to break even with $75k in revenue 5 minutes from Okemo. My house is a 4/2.5 and we allow pets. The locals hate STR operators so you gotta keep you head down. I learned a lot and maybe will come back to STRs when I don't have to overpay to get in, but I'm selling it right now and not looking back while I have the opportunity to offset my cap gains with all our losses. Not doing 1031 for a reason. Times have changed drastically and you gotta play with real estate in a way that won't get you in a world of hurt. I'm not Blackrock.

Has anyone tried to build a direct booking website with Guesty for Hosts? How are you supposed to setup booking notifications and how do you communicate with the guests? I built one and had a friend place a booking, but I did not receive anything that told me someone booked. Thanks in advance!

Thanks for sharing Brian! I was beginning to think I made the biggest mistake of my life by buying in Ludlow so hoping summer and fall pickup as my research showed it should. 

Your property is beautiful! I'm definitely saving it for our annual ski trip. :-)

 Thank you for sharing Neil. I'm currently exploring building in Fannin County. I'll give the county a call to see what they can share on the permit count. Last thing I'd want is to build something I can't rent out.

Thank you so much everyone for your input and not giving up on my stubborn a$$! I took what you all said and talked through it with my CPA. I clearly did not understand what he was suggesting all along which was to file on schedule E and treat the STR as passive rental activity. I was trying so hard to decrease my tax bill for 2022 that I lost sight of how much the SE tax would hurt me in the long run as the STR turns a profit which it already is. I'll take the hit this year and carry over the loss to deduct going forward as you mention Michael. Again, I cannot express my gratitude enough! Thank you,

Sharing this article which digs into schedule E and C and self-employment task liabilities when it comes to providing "substantial services". The article is case-law based. For me personally, schedule C, for my STR, provides much more tax benefits for my overall RE portfolio AND my W2 income than schedule E. My biggest risk was self-employment tax which based on what I provide in my STR, currently, does not not apply.

https://hbkcpa.com/beware-vaca...

Thank you for sharing the link. Read through it. Life makes a bit more sense now. My average stay is below 7 days and because of that I am subject to schedule C from what I understand. My original question was whether I should accept a seasonal guest which would bring my average stay above 7 days, but below 30 which would put me on schedule E, but that type of guest is not guaranteed to happen every year and if I cannot flip from Sch C to Sch E on the same property, then I have to decline the inquiry. That's what I'm really trying to figure out. 

Even if I materially participated and have documented 450 hours of active management? By putting it on schedule C, I am able to offset capital gains I had on a sale of a different property with the losses from my STR. Please elaborate further if you don't mind.

 Helpful thank you! Where does Mineral Bluff and Morganton fall?

Hi Adam,

If I own a STR that averages less than 7 days per year and is filed on Sch C, but I have 1 guest who wants to rent it for the entire winter season (154 nights) which is when I get majority of my guests, I presume I would have to have a decent number of typical, less than 1 week bookings in the other months to bring my nightly average down. If I can't get to down to less that 7, what kind of tax implications am I looking at knowing that I can't bounce that property from Sch C to Sch E and vise versa? Should I decline this guest due to the tax implications?

Thank you!