I purchased a home last year for rental.
I am bit confused with the 1099-NEC/MISC filing requirement. I think this is not required because my rental is not a "trade or business" and thus am not taking a QBI on it.
Is that a correct assumption? What is really considered a trade or business?
This is my one and only single family home rental. I bought it to live at but instead am now have it as a rental for 2020 tax year.
