Do you have a beach or mountain home that you rent out?

If so, you likely have a choice—either

claim the income and expenses on Schedule C, or

claim the income and expenses on Schedule E.

When Is Schedule C a Good Choice?

If you show a tax loss on your rental property, Schedule C is a great choice because it allows you to deduct your rental losses against all other income (assuming you materially participate in the rental property, as discussed later).

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