@DianeW777 wrote:
It depends...
It does not depend. Unless the owner provides substantial services to renters or is a real estate dealer, the rental income and expenses are reported on Schedule E, not Schedule C.
@DianeW777 wrote:The rules below explain the requirement to consider yourself a real estate professional. If you meet these rules you would use Schedule C
That is 100% incorrect. Even real estate professionals report income and expenses from their rental real estate on Schedule E unless, again, they provide substantial services to their renters or are real estate dealers.
@SaifTax
