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Investors & landlords
Wait a minute.... folks may be jumping the gun here.
I have 29 rental homes that are held under a business
What kind of business? This can matter BIG TIME!. I see you're using TurboTax Self-Employed. So it matters what kind of business owns the rentals. A single member LLC? A multi-member LLC? An S-Corp? A C-Corp? Partnership? Something else?
If the business is not a sole proprietorship or single member LLC, then you will *NOT* report your rental income/expenses on SCH E as a part of your personal 1040 tax return *AT* *ALL*. So please post back and let me know.
‎January 24, 2020
6:15 PM