Stimulus checks - rental income count towards gross income?

Stimulus checks - rental income count towards gross income?

Member since 2019 · 1 post · 0 votes


For example, if my salary is $60,000, and I receive $12,000 in rental income (12 months of $1,000 in rent.. of course this number does not include deductions like repairs, taxes, interest, etc), does that mean the government will consider my gross income to be $72,000 when deciding if I qualify for the stimulus checks? I think gross income of $75,000 or less for single filers qualifies for the full amount

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  • Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    Yes, assuming you are a sole proprietorship or LLC your net income will flow through to you as standard income. You are taking depreciation though, right? That will shelter some portion of that additional income.

  • Specialist · Portland, OR · Member since 2010 · 3k+ posts · 1k+ votes
    6y

    @John Castillo it based on your adjusted gross income for 2018. 

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