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Rental income: Passive or Earned?
We have a rental and we are in CA. Since we are capped by the amount of deduction, which usually factoring in the property tax for rental and our own home, TurboTax just says it’s best we use standard deduction.
so how to know if TurboTax is showing my rental is passive income or earned income? We are not actively managing it as our tenants don’t like to be bothered. So I’m not sure if rental income for us is considered as passive or earned in that case. How to check? Thanks
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October 24, 2022
10:43 PM