Airbnb Host Taxes in Wyoming - 2025 Guide

Updated for 2025 (Filing 2024 Taxes)

Is Airbnb Host income taxable in Wyoming?

Yes, even though Wyoming doesn't have a state income tax, income earned as an Airbnb host is subject to federal income tax. The IRS considers Airbnb hosting a business activity, meaning you'll report your earnings and expenses on Schedule C (Profit or Loss From Business) as part of your Form 1040. You'll calculate your net profit (income minus expenses) on Schedule C, and that net profit is then added to your overall income for the year.

Wyoming Specifics: Because Wyoming has no state income tax, you won’t need to file a state income tax return related to your Airbnb income. However, you are still responsible for paying federal income tax and self-employment tax on your profits.

Top Tax Write-offs for Airbnb Hosts

• Mortgage Interest & Property Taxes: If you own your property, you can deduct the portion of your mortgage interest and property taxes that relate to the time the property is used for Airbnb rental. If you rent out a room in your primary residence, you'll need to allocate these expenses based on the percentage of your home used for rental.
• Utilities: Similar to mortgage interest, you can deduct the portion of your utilities (electricity, gas, water, internet, etc.) that are attributable to the rental use of your property. Keep detailed records!
• Cleaning & Maintenance: Expenses for cleaning services, repairs, and general maintenance of the rental property are deductible. This includes things like laundry, landscaping, and minor repairs.
• Mileage: When you use your vehicle for Airbnb-related activities (picking up guests, going to the property for cleaning/maintenance, buying supplies), you can deduct mileage. For 2024, the standard mileage rate is 67 cents per mile (verify the official IRS rate at IRS.gov). Alternatively, you can deduct actual vehicle expenses (gas, oil, repairs, etc.), but the standard mileage rate is often simpler.
• Airbnb Fees: The fees Airbnb charges you for using their platform are a deductible business expense.

The 15.3% Self-Employment Tax Surprise

As an Airbnb host, you're considered self-employed by the IRS. This means you're responsible for paying both the employer and employee portions of Social Security and Medicare taxes – collectively known as self-employment tax. This totals 15.3% (12.4% for Social Security and 2.9% for Medicare) on your net earnings from Airbnb.

You'll calculate this on Schedule SE (Self-Employment Tax). The good news is you only pay self-employment tax on profits over $400. You can deduct one-half of your self-employment tax from your gross income on Form 1040, which helps reduce your overall tax liability.

Closing Tip for Wyoming Residents

Being an Airbnb host in Wyoming offers the benefit of no state income tax, but diligent record-keeping is crucial for maximizing your federal tax deductions and accurately calculating your self-employment tax. Consider using accounting software designed for self-employed individuals or consulting with a qualified tax professional to ensure you're compliant with all IRS regulations. Don't hesitate to seek professional advice – it can save you money and headaches in the long run!