Can you mix types of investment properties - eg rental and airbnb

[OMG_OMG]

Hypothetical question here.

If I have one regular rental property and one airbnb in Ireland property how would the following be taxed if im on the high tax rate.

Property 1
Regular rental - Rented for many years - Income €10000 per year.
Mortgage interest 1% - comes to say €1000 in a year

Property 2
Airbnb, just bought this year and airbnb for the summer months and maybe easter, but empty the rest of the year as unlikely to get takers out of season. - Income €10k per year
Mortgage interest 4% - comes to say €4000 in a year


Do you just lump the two of them into the calculations for tax at year end. Or do you have to treat them separate or differently.


eg Total profit €10000 + €10000 = €20000
minus (whole year expenses for property one + whole year expenses for property 2)

Or can you not use the full year expenses for property 2 since it would not be rented for a good portion of the year.

 

[cremeegg]

You are required to keep a separate account for individual rental properties.

In my opinion Airbnb income is not in fact rental income, but trading income.

If the Airbnb property is available for letting for the 12 months then all its expenses are tax deductable.

Finally tax aside, Airbnb is almost completely illegal in this country unless you are letting rooms in your own home.

 

[PaxmanK]

I think you are asking if you make a loss on one can you offset that loss against the tax on the other one that makes a profit.
Yes, I believe you can.

 

[Shazzaqwe]

Im thinking of doing something like this too.
What im told so far is that they are treated the exact same.
Income - expenses (of both properties added together)= profit.