MinhT1
Expert Alumni

Investors & landlords

1. In your case, for your rentals, you are an active participant.

 

And the rental income is passive unless you can be considered as a real estate professional.

 

Please read my Community answer to check whether you are a real estate professional.

 

2. As you are using the cash basis, you deduct insurance premiums in the year you actually paid them, even if the coverage extends partially to the next year.

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