Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

42
Posts
6
Votes
LEONID ORLOV
  • Investor
  • Hermosa Beach, CA
6
Votes |
42
Posts

Expensing travel and home office without Sch C

LEONID ORLOV
  • Investor
  • Hermosa Beach, CA
Posted

I have multiple rental properties, report all income/expenses oh individual properties Sch E.

when I tried to deduct default calculated home expense TurboTax took me though the maze of questions on bushiness and since I don't have a business, per say, it determined that my business income is not sufficient it looks like it rely on Sch C, which I don't have.

Question:

1. Do I need to reallocate parts of Schedule E income to Sch C and create a sole proprietorship business? Seems convoluted and creates additional taxation.

2. In the absence of Sch C listed business, how I expense travel expenses for exploring out of state opportunities..none of these expenses are allocatable to the existing Sch E properties

Loading replies...