- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
doesn't really matter becuase you only have 1 building. however the reason "Enterprise 1". in your return there is a statement - the rental real estate enterprise statement. the 250-hour requirement is for each enterprise. so if you have 4 rental properties and didn't treat them as 1 enterprise you would have to satisfy the 250 hour requirement for each or a total of 1000 hours. treating as one enterprise means you only have to spend 250 hours on all 4. if you were to treat each as a separate enterprise there would be multiple statements 1 for each and each would need a separate name.
this is like arguing what is proper to use for the description of the property in the asset section building or home or house or the address
.
March 6, 2023
5:35 PM