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Business & farm
The 2021 tax return was due in 2022, so you still have a month and a half to amend that return for a refund, as the three year limit applies to the due date of the return. The same applies for the 2022 return, you have until 2026 to amend it to receive a refund.
It is possible you are reporting the charter business as a rental activity on schedule E. If so, it would be by default a passive activity. However, since it is a short-term rental activity, it should be reported as a self-employment activity on Schedule C. If you report it that way, it should populate as a non-passive activity in TurboTax, assuming you indicate that you materially participate in it.
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February 24, 2025
9:17 AM