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Investors & landlords
FMV can be a subjective amount (i.e., unless you charge something like 50% of the going rate of other similar rentals). You can obviously use Schedule E if you like... just be prepared to defend your position with the IRS should they question it (which they may very well not unless... again you charge substantially below FMV). Keep good records.
‎June 3, 2019
12:38 PM