If all income is from Rental Property and I qualify as "Real Estate Professional" does the rental income get filed on a Schedule C and subject to Self Employment Tax?
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If all income is from Rental Property and I qualify as "Real Estate Professional" does the rental income get filed on a Schedule C and subject to Self Employment Tax?
Our sole income (no losses) is from the rental of multiple Residential Buildings in which we actively participate. If we are considered a Real Estate Professional then we avoid the NII but does the property income become subject to SE tax and then filed on a schedule c? I'm confused.
If all income is from Rental Property and I qualify as "Real Estate Professional" does the rental income get filed on a Schedule C and subject to Self Employment Tax?
No. Unless you provide "services" to the tenants (such as maid service or meals), it does not go on Schedule C.
The rentals go on Schedule E, just like those who are not Real Estate Professionals.
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