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Investors & landlords
@DiddlyD wrote:
Well actually you proved me right, because Schedule E is to report passive income not earned income as in a "business" look at the tab you are under that is not Schedule E!
Again, the above-quoted statement is inaccurate and you are mistaken. Income/loss reported on Schedule E income/loss can be passive or nonpassive and the income entered in TurboTax as 1099-K income is reported on Schedule E by the program.
In fact, you clearly do not understand the difference between earned income and passive income. The latter can still be considered a type of "business" income for purposes of federal income tax law and regulations (e.g., the QBI deduction).
‎December 14, 2022
8:19 AM