Short-term rental? Start with these tax questions

What did the calendar actually look like?

Export reservation records with arrival and departure dates, cancellations, and the amounts charged. Include direct bookings and bookings through other platforms. A single platform’s annual summary may not describe all customer use of the property.

Maintain a separate calendar for your own stays, family use, discounted stays, maintenance, and time the property was available but unoccupied. Do not assume that every day without a paying guest has the same meaning. IRS Topic 415 explains that personal use can include more than nights you personally spent there, and mixed-use rules may affect the treatment of expenses.

Which services did guests receive?

Describe what you or a manager provided, who performed it, and how often. Distinguish services during a stay from turnover work between bookings. Include cleaning, linen changes, meals, and other guest services where applicable, along with the management agreement.

Publication 527 discusses substantial services when explaining rental reporting. Publication 925 separately discusses exceptions to rental-activity treatment for passive-activity purposes. A short average stay does not, by itself, determine a reporting schedule or establish that a loss can offset other income. Ask your preparer to address those questions separately.

Can the booking totals be reconciled?

Bring platform transaction exports, annual statements, any tax forms received, and bank records. Keep guest charges, platform fees, refunds, and amounts described as collected taxes identifiable. Ask about differences rather than forcing all totals to match a single bank deposit. A missing tax form is not a reason to leave an income source out of the discussion.

• Use the property ledger to reconcile gross receipts, fees and transfers

What work did you and others perform?

Keep a factual account of tasks and time spent by you, a spouse, a manager, and contractors. A calendar or narrative with supporting records can help explain your participation. Owning a property, managing some bookings, or holding a real-estate license is not a stand-alone conclusion about the applicable tests.

Bring your prior return and any loss-carryforward information. End the conversation with clear questions: which reporting rules apply, which personal-use facts matter, what participation records are needed, and what additional state or local obligations require separate review?