Since the City or State came up with Housing Code, what are they doing about AirBNB

[Henna]

Originally Posted by SeventhFloor

I doubt people are claiming AirBnb revenue on their taxes....

I know someone who was "managing" her boyfriend's upstate house rental on Airbnb. We discussed this at a dinner that her bf did not attend. One dinner guest brought up the tax issue, that she should be careful because now she would be liable for taxes earned even though the house belonged to her bf. She looked like a deer in headlights, like she had no idea any tax could possibly be involved. She honestly believed she would owe no taxes even though there was income earned.

This was at least a year ago, so maybe something has changed with the airbnb process since then.

[NyWriterdude]

Originally Posted by Henna

I know someone who was "managing" her boyfriend's upstate house rental on Airbnb. We discussed this at a dinner that her bf did not attend. One dinner guest brought up the tax issue, that she should be careful because now she would be liable for taxes earned even though the house belonged to her bf. She looked like a deer in headlights, like she had no idea any tax could possibly be involved. She honestly believed she would owe no taxes even though there was income earned.

This was at least a year ago, so maybe something has changed with the airbnb process since then.

The money is sent to in these ways.

It can be wired into your bank account, sent to you via paypal, or sent to you on a debit card. So since it's sent to you electronically AND they have your ID (and they confirmed your identity in other ways) of course there are tax liabilities. At least as of 2014, there are tax forms within Airbnb users are supposed to pay out. Airbnb has tax liabilities of $28% of income in NYC.