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State tax filing
Schedule E states that it is for rental real estate. However, what I am renting out is not real estate. It is personal property/equipment. And it is not a business activity, so I know it shouldn't be on Schedule C. This is simply a passive income-producing investment. Should this be reported on another form? If this income should be on another form, what should that be? Will that affect how I show my depreciation deductions and losses?
March 7, 2022
11:44 PM