For at least the past ten years I have reported income and losses on the schedule E. To date I've considered these seven single family homes investments, but they also qualify as a business, given the number of properties and level of participation, at lease based on my readins and examples). (ADJ INC: > $100,000 and
< $150, 000) (2020 losses > $25,000) From a loss deductible point of view (i.e. loss limitations) is it better to identify as a business or continue as a investment. Also, if I change to a business, does that mean I now have to complete the small business schedule. My husband is considered a(no real estate professional and we actively and materially participate. Our objective is to make a profit that adds to our income as retirees.
Thank you in advance.
CN
