Schedule C

[brnewmon]

I have businesses that I received K1's for income i have entered on my personal taxes.  But personally I bought a building that I rent back to the businesses that are used for mental health counseling offices.  Do I deduct the depreciation and loan interest on a schedule C on my personal return?

[M-MTax]

No.....if the businesses are separate from you like partnerships or S corps then you enter the rental income on SCH E as a rental BUT you are subject to the self rental rules if you materially participate in the businesses.

https://www.journalofaccountancy.com/issues/2000/sep/selfrentalincomeconsideredactive.html