Re: Lease/Option Sandwich TAX HELP!!!

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Posted by randyOH on February 08, 2010 at 17:58:14:

In Reply to: Re: Lease/Option Sandwich TAX HELP!!! posted by Dave T on February 08, 2010 at 14:25:33:

Dave,
You may be right about this and I am not saying you are wrong. However, I was not able to find anything in a rather cursory review of the forms and instructions that would confirm your interpretation of how the law would apply to this situation.

I could not find anything that says you have to own the underlying property to report rental income from real estate on sched E. So my interpretation would be that income from rental real estate is reported on sched E whether you own the underlying property or not.

The only exceptions I could find for reporting rental income on sched C are for renting personal property (such as cars) or hotel/motels where substantial services are provided.

If you have any authoritative sources to support your view, I would be happy to take a look at them.



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