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Investors & landlords
You don't have to amend your prior year return and change your business reporting. You can be actively involved in the business and provide additional services to you short term tenants, like cleaning, cooking etc. in one year and just receive rental income in another year. It is acceptable as long as you consistent with your depreciation deduction for that property.
March 15, 2021
7:26 PM
3,017 Views