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Old 02-18-2018, 01:59 PM
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Bed and Breakfast

I set up a Bed and Breakfast LLC small business in 2017 ......leased a condo in Mexico for 5 mo. and rented a bedroom on Airbnb for a few weeks.

Are my travel expenses there and back deductible?
Is the cost of the $1,000 mo. rent deductible or just a portion of the 1,200 Sq. ft. space when it was rented?
Are the grocery cost deductible during the time visitors were there?

Thank you in advance



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Old 02-19-2018, 08:39 AM
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Are my travel expenses there and back deductible?========>>correct aaslongas you report your income from the leased condo and the rented bedroom you may claim rent related expenses ,i.e, travel expenses; You can deduct nearly any expense related to operating your rental condo and bedroom except mortgage payments and personal income tax, You can deduct the cost of transportation to carry out activities related to your condo rental
thr
Is the cost of the $1,000 mo. rent deductible or just a portion of the 1,200 Sq. ft. space when it was rented?=====>you can claim, unless you rent the whole space, only the portion of the total sq ft actually rented.
Are the grocery cost deductible during the time visitors were there?========>no the grocery cost is nondeductible since it is not rent related directly expenses but it is personal expense.



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Old 02-19-2018, 10:51 PM
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Bed and Breakfast

Wnhough...to clarify.....I stayed in the condo for the full 5 mo. and rented out 1 of the bedrooms for a few weeks on Airbnb......I look for your reply and thank you for you help. Please explain as needed



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Old 02-19-2018, 11:57 PM
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Quote:
Originally Posted by michaelbo View Post
Wnhough...to clarify.....I stayed in the condo for the full 5 mo. and rented out 1 of the bedrooms for a few weeks on Airbnb......I look for your reply and thank you for you help. Please explain as needed
then you can claim only the rent expenses for the condo rented out for a few weeks and need to report the rental income generated from the condo rented out for a few weeks.



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