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Deductions & credits
1. A pool is real property and might go on sch E, depending on the circumstances and services provided. IRS Topic 414 scratches the tip of the iceberg. Running a swimming pool business seems pretty involved. If you provide substantial service, it can turn into a Sch C. This is a new trend and not clearly defined by the IRS.
2. Yes, the portion used for the rental business is deductible
3. Yes, the portion used for the rental business is deductible
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‎February 15, 2024
11:07 AM