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To: Raycpa
A corporation is not needed in order to deduct ordinary and necessary business expenses from revenues.

Yes. This will be the first year I've had "business revenues" in the form of rent collected on my 2nd house. I do plan to deduct the interest, taxes and maintenance costs from those revenues on my form C.

120 posted on 12/23/2007 4:18:51 PM PST by Myrddin
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To: Myrddin

You generally use Sch E for real estate rents


123 posted on 12/23/2007 6:09:45 PM PST by Raycpa
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