Rental Property Tax Prep
Rental Property Tax Preparation
Schedule E long-term rentals, short-term Airbnb/VRBO filings, Lake Lanier vacation rentals, and depreciation planning — with the deductions most self-prepared owners miss.
Quick Answer: Rental Property Taxes
We file Schedule E for long-term rental income, Schedule C for short-term rentals treated as a trade or business, set up depreciation schedules that capture legitimate deductions, and handle Georgia hotel/motel excise for Airbnb and VRBO operators.
- Long-term residential rental returns (Schedule E)
- Short-term rental returns (Airbnb/VRBO)
- Depreciation setup and 27.5-year tracking
- 14-day personal use rule compliance
- Georgia hotel/motel excise tax compliance
Deductions Most Owners Miss
- • Mileage to and from the rental property
- • Home-office allocation if managing from home
- • Cost segregation for accelerated depreciation
- • Appliance and furniture Section 179 or bonus depreciation
- • Cleaning fees, turnover, and property management
- • Travel to inspect or repair out-of-town rentals
- • Tax prep fees allocated to rental activity
- • Insurance, HOA fees, and utilities
Related Services
Rental Property Tax FAQs
What's the difference between short-term and long-term rentals for taxes?
Long-term rentals (leases over 7 days on average) go on Schedule E and are passive activities—losses are limited. Short-term rentals (average stays of 7 days or less) are often treated as a trade or business (Schedule C) if substantial services are provided. This distinction affects self-employment tax, QBI deduction eligibility, and loss treatment.
How does the 14-day personal-use rule work?
If you use a property personally for more than 14 days or 10% of rental days (whichever is greater), the IRS treats it as a personal residence — limiting rental deductions to rental income. Track personal-use days precisely. Many Lake Lanier and vacation-home owners lose legitimate deductions because they don't document personal vs. rental use.
Do I owe hotel/motel tax on my Airbnb or VRBO?
In Georgia, yes—hotel/motel excise tax applies to stays of 30 days or less. Hall County (Lake Lanier), Jackson County, and most Georgia counties charge hotel tax that must be collected from guests and remitted. Platforms like Airbnb collect and remit some state taxes automatically, but county and local taxes often still fall on the owner.
Can I depreciate my rental property?
Yes. Residential rental property is depreciated over 27.5 years (straight-line). The land portion is not depreciable—only the building. Appliances, furniture, and improvements have shorter lives (5, 7, or 15 years) and may qualify for bonus depreciation or Section 179 in some cases. We compute the depreciation schedule and track it year over year.
What if my rental loses money — can I deduct the loss?
Rental losses are passive activity losses. Up to $25,000 can be deducted against non-rental income if your modified AGI is under $100k (phased out by $150k). Real estate professionals (750+ hours/year in real estate) can deduct unlimited losses. Short-term rentals treated as a business have different loss rules. We check your facts each year to maximize loss deductibility.