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Investors & landlords
@scottulves wrote:PAL Rules don't apply to renters who rent for less than 7 days on average (IRS Reg. SS 1.469-IT(e)(3)(ii)(A). Thus, the rental activity can be filed using a Schedule C and not considered passive income.
It would be passive, but unless "services" are provided, it still goes on Schedule E and would NOT be "earned" income.
‎April 11, 2021
8:09 AM