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I have an art studio and rent out some of it to other artists. I pay the landlord directly, and collect $ from them. How should I list the $ they pay me? Uncommon income?
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June 9, 2020
12:40 PM
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Investors & landlords
It is income on the Sch C no matter which income section you put it in.
June 9, 2020
12:44 PM
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Investors & landlords
If your art studio is a SCH C business, then all income received by the business from any source for any reason is business income reported on the SCH C. Period. Then the rent you pay the landlord is a SCH C expense.
June 9, 2020
5:09 PM