Landlord Taxes
Landlord Tax Classifications
Your Guide To Landlord Tax Classifications Understanding your IRS classification for tax purposes is crucial when managing rental properties. This classification determines which deductions you can claim, influencing your overall financial strategy. The IRS categorizes rental activities into three distinct classifications—real estate investment, not-for-profit activity, or business ownership—each with specific implications for income tax filings. […]
Dec 20, 2024
5 min read