Advice and answers from the ShareGrid Team

ShareGrid cannot and does not offer Tax-related advice to any members. Please consult your tax consultant to determine tax treatment for your rental activities and retain all relevant documentation. This statement is provided for information purposes only and is not intended to constitute tax advice.

Generally, income earned by renting out your gear is taxable. If your earnings exceed a certain amount in a calendar year, you will receive a Form 1099 for that year from Braintree, our merchant account provider. There may be deductions you might be able to take against this income, i.e, some vehicle expenses, depreciation, etc. Please consult your tax consultant to determine tax treatment for your rental activities and retain all relevant documentation.

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