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Investors & landlords
Hello Spino,
Thanks for detailed explanations! Here are my understanding from your messages:
1. "this is a new deduction" for 2021 which means a rental that once considered "investment" now is treated as "business" if it passes 100% usage test, isn't it?
2. The "investment" type is no longer used to describe rental property for the tax purposes? A rental property could only be personal use OR business use during a described period.
March 21, 2022
6:04 PM