Schedule C is correct Ron, you have a small business. Report gross receipts and expenses, don't forget other deductible expenses like advertising and office equipment, there is also an easy way to report home office by sq footage this year. Review IRS pub for Schedule C for full list.
and the phone and the and the internet connection and my tug and redweek membership and my membership in the Florida Timeshare owners group etc etc
My rental business isactually pretty simple (getting big, but still simple) and It piggy backs on my realestate business
My real job is as a real estate agent where Im organized as a P.A. and S corp.
Ive been doing the home office deduction with a whole host of advertising and office equipment and supplies and automobile deductions for a long time. Ive always done the home office as 1 room in a 6 room house, or 16%. I was audited once over 30 years ago. They accepted it then, so I kept doing it
Maybe my real estate sales business should charge my vacation rental business rent. I do have two desks in here.