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Investors & landlords
It is not a matter of the number of properties that you have, it is a matter of the services that you provide that determines whether you would use Schedule E or Schedule C.
In one of your earlier posts you mentioned that the properties have long term leases of a year. Even though you do provide maintenance and repairs and other services, that is not the level of service that would be needed to report the rental income and expenses on Schedule C instead of Schedule E. In general, if the rental was more like a hotel or bed and breakfast where you provided daily maid or meal service for your renters, then it could be treated as a business reporting on Schedule C. Long term rentals are reported on Schedule E.
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‎February 18, 2024
6:59 AM