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Old 03-25-2015, 05:27 PM
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Reporting Rental Income from private property on business tax return

Hello,

I have a question regarding filing past due taxes for the year 2012, 2013, & 2014. I have a private property that I own and rent. I also have a business that I would like to report the income generated from this property on my business tax return. Can I report the rental income on my business tax return if I have a real estate license that is not currently registered with a Real Estate Broker, and the business is not a registered broker? If not, what are the requirements for reporting the rental income on my business tax return? If unable to report on under business should it be filed on personal taxes?

Also, Can this income be reported on my business tax return if the funds were not used to pay the mortgage due to loss of employment and unemployment in 2013?

Are there penalties for not reporting during the current years'?

Can you provide the best resources available to assist with filing this tax return?

Can you also, provide me with recommendations if you do not consider this the best filing solution?



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