About Carl

Level 15

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Self-employed computer consultant & own 3 rental properties. Retired from USAF in 98.

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Re: Primary home converted to rental being treated as active income

See if this information helps.Number of days of personal use - ZERO. The program is asking for number of days of personal use "AFTER" you converted it to a rent...

Carl

Updated Mar 17, 2025
Solved Re: can I file a schedule e for an airbnb property that I manage

No. Basically, you are "in the business" of managing other people's property. Therefore all of your business income and expenses are reported on SCH C with the ...

Carl

Updated Mar 17, 2025
Re: Where do I record my Cost of Goods for my eBay reselling busines...

@Rhom for inventory there's a section in the TTX program for reporting this. The only way to actually see that section in the program is if you indicate that yo...

Carl

Updated Mar 18, 2025
Re: TD 9991 - new Consistent Basis Reporting

For starters the basis for property tax is not used on any income tax return unless all other alternatives to determining/establishing a cost basis have been ex...

Carl

2

Updated Mar 18, 2025
Re: Converting a vacation home to a rental property

No depreciation adjustment is needed if you now rent a prior short-term rental all year. I'm concerned the above statement may be confusing to some. If as an ST...

Carl

Updated Feb 26, 2025

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