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Investors & landlords
No, you would not select started a business. You are not in a business if you are simply renting out a second home unless you would be using it as like an Airbnb and providing some type of service like breakfast and massage along with the stay.
Income from renting a home is considered passive income and is reported on Schedule E. You will need to use TurboTax Premiere to report your income and expenses from the rental property.
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‎January 23, 2023
9:53 AM