- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
@macuser_22 yea and if she does receive that letter after filing the income as "other income" - then she will refile SE income and go through the process of deducting all the expenses that would then cause her to not pay the SE tax anyway.
I would bet she is much more likely to have the IRS go after her for Filing as Schedule C and paying 0 tax (as @AmeliesUncle pointed out) , then filing as "other income" and paying full income tax. and in her case she would prefer the "other income" and paying more income tax than having the hassle of proving deductible expenses every year.
‎June 30, 2020
6:33 PM