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01 Oktober 2008

[taxchat] rental income prior to converting to home care facility

This question is the for the same client that I asked about earlier combining the two homes under 1 C.

 

Apparently on the house she bought in 07, she received rent from the prior owners before she converted the home into her new residential business.

 

I would like to list this amount as ordinary income not on her Schedule C (SE tax), but I think that I need to put it on the schedule C. 

 

Can anyone let me know what they think?

 

Thanks for the help

 

Cris

 

 

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IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.
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