Rental properties are under an LLC. Can I use schedule C under the LLC to deduct home office and still report rental property gain/loss under schedule E?
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No, you cannot. The tax law does not allow for a home office for rental property activities. Even on a Schedule C, home office expenses are not deductible if they exceed income.
No, you cannot. The tax law does not allow for a home office for rental property activities. Even on a Schedule C, home office expenses are not deductible if they exceed income.
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