I have owned one self storage facility for 35 years and have reported the rental income on Schedule E. This year I am confused as to whether this rental income should be reported on Schedule C or E? If it is reported on Schedule C is there a Business Tax deduction that I would be entitled to and if so how much would it be. I am retired and have a room in my house where I keep the records for this rental property which I consider as the Main Office for this rental property. I keep the records on each tenant, send foreclosure notices and statements to tenants that owe back rent and order and pay for supplies and services for the Storage Facility. Is Schedule C income reported on my 1040 and is it taxed based on my personal income tax bracket?
Thanks Kenneth W. Carr Tel. [phone number removed]
