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Get your taxes done using TurboTax
@Mike9241 wrote:depending on all the facts and circumstances the IRS could conclude that 2 and 3 serve no business purpose and were merely formed to convert rental income into earned income so certain tax benefits could be obtained.
I agree; that certainly could be the conclusion based upon the information provided here.
‎January 6, 2023
1:39 PM
2,214 Views