@luckey22330 wrote:
@AmeliesUncle
Sorry, yes, 39 years, thanks for the correction.
I do not have long term tenants, it is an STR. It is occupied for less than seven days each week and I materially participate in the operations, so I qualify to leverage Schedule C versus Schedule E.
Unless you provide "services" to the tenants, it still belongs on Schedule E. It does not belong on Schedule C.
TurboTax does not ask the proper questions for a short-term rental with Material Participation. You will need to use the CD/downloaded version to get it to work correctly. After entering all of the correct information as a rental on Schedule E, you'll need to go to the "Forms" in the upper right-hand corner. The on the left side, select "Schedule E Wks" and then check box "G" (other passive exceptions).
