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Investors & landlords
Q. If the contractor has his own business, does that mean I don't need to worry about it?
A. No.
Taxes are complicated. You "don't need to worry about it", but not for that reason.
I assume you have a residential rental unit and file Schedule E. That is, your rental activity is not a trade or business and it does not qualify for the QBI (qualified business income) deduction.
‎June 16, 2022
6:36 AM