Originally Posted by
Florence AirBnB is above-board, but it's also tax-free. It's up to the renter to report the income. It's cash in his hands that he doesn't have to report, to my knowledge.
ehhhhh.
Income is income. Whether one chooses to accurately report it is another matter.
But just because it is Cash does not mean it is not income nor tax-free, per se.
More like just unreported income.
Not to be an accounting nerd, or anything, but just so folks do not act on what may harm them or others . . . .
Could be even a major Tax Deduction/Expense. If shown as Rental Income, there could be Expenses, Depreciation, etc., that actually LOWER one's Tax Liability by offsetting other income.