Since the IRS views this as passive income, you don't get to deduct a home office. Can I just put all the income on the Schedule C, instead of the Schedule E?
A lot of property upkeep and office work goes into this, so it's not passive at all. According to the IRS publications I've read, it seems like I meet the "active business" aspect of filing, therefor should be able to deduct a home office. Which is exclusively used for the business...
A lot of property upkeep and office work goes into this, so it's not passive at all. According to the IRS publications I've read, it seems like I meet the "active business" aspect of filing, therefor should be able to deduct a home office. Which is exclusively used for the business...
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
