Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. brigit has a guest cottage on her property. she us

Brigit has a guest cottage on her property. She uses an online platform to rent...

70.2K

Verified Solution

Question

Accounting

Brigit has a guest cottage on her property. She uses an online platform to rent the cottage; she cleans the cottage between renters but does not provide other services. The average renter is there for three days. In 2022, she rented the cottage for 175 days. She received a Form 1099-K from the online platform for her rental receipts. How should she report this income? Short-term rentals are not taxable income, so she does not need to report anything. The income should be reported on Schedule C. The income should be reported as passive rental income on a Schedule E. She should request an Earnings Summary so she can properly divide the

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

You have 6 different colored balloons. In how many distinct ways can the balloons be...

Physics
1.2K views

1. An aortic aneurysm exists as a bulging out of the aorta walls, where the aorta...

Advance Math
1.2K views

Can any genius explain me about well-ordering principle - Proofs using well-ordering principle. with some examples.

Physics
1.2K views

If velocity of an electron in third energy level of a hydrogen like atom is...

Geometry
1.2K views

1 y 2 2 Evaluate the integral x y 1 dx along the path ABCDA...

Basic Math
1.2K views

In this problem, y = 1/(x + c) is a one-parameter family of solutions of...

Calculus
1.2K views

For the following functions, f(x, y) = 4x^2 + 2y^2 8xy. Find the minimum...

Calculus
1.2K views

The campus of a college has plans to construct a rectangular parking lot on land...

Accounting
1.2K views

Financial ratios computed for Whittaker Inc. include the following: ...

Accounting
1.2K views

You work for Thunderduck Custom Tables Inc. This is the first month of operations. The...

Accounting
1.2K views

Project 1 S (130,000) Initial investment Salvage value Annual income Project 2 $ (100,000) 10,000...

Accounting
1.2K views

Select all that apply Which of the following are assumptions of cost-volume-profit analysis? ...