Which of the Following Entity(ies) Is(are) Considered Flow-Through Entity(ies)?
Which of the following entity(ies) is(are) considered flow-through entity(ies)?
A) C corporation.
B) Sole proprietorship.
C) Non-profit corporations.
When reporting the income and expenses of a rental property, what determines the use of the Schedule C versus the Schedule E?
What must the owner of rental property do with respect to the rental activity to have it be considered: 1) material participation? 2) a trade or business?
What is meant by ordinary rental expenses and what criteria must be met to be deductible? Provide some examples of deductible rental expenses. For this question, assume no personal use of the rental property.