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Get your taxes done using TurboTax
1.) That is true, but see #2 -
2.) To be all non-passive, it would need to be reported on Schedule C. There is a special allowance of 25K (for Schedule E) of passive income to offset non-passive income.
See this discussion that explains the exceptions to filing Schedule E.
Tax Tips for renting out a room in your home
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‎April 3, 2024
2:38 PM