Tips on rental real estate income, deductions and recordkeeping Internal Revenue Service

Minimal personal use (such as a stop for lunch between two business stops) is not an interruption of business use. Report the recapture amount as other income on the same form or schedule on which you took the depreciation deduction. Qualified business use of listed property is any use of the property in your trade […]

Tips on rental real estate income, deductions and recordkeeping Internal Revenue Service Read More »