Can I Deduct Airbnb Expenses?

Renting out a room or your entire home on Airbnb can generate income, and it also comes with deductions that can reduce what you owe. If you rent your home for more than 14 days per year, you must report the income, but you can also deduct expenses proportional to the time the home was rented. Deductible costs include a share of your mortgage interest, utilities, insurance, cleaning costs, supplies you provide guests, and platform fees. If you rent only a portion of your home, such as a spare bedroom, you can deduct the expenses associated with that space based on its square footage as a percentage of your total home. The 14-day rule is important because homes rented for 14 days or fewer are treated as personal residences and the income is tax free.