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Old 05-30-2008, 11:15 AM
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Is Rental Income considered as qualifying income to receive the Stimulus Rebate

I would like to know whether the "Rental Income" from real estate activity would be considered as qualifying income in order to receive the Stimulus Rebate?

Thanks..



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Old 06-03-2008, 09:51 AM
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Is Rental Income considered as qualifying income to receive the Stimulus Rebate?

Unfortunately, the IRS has specifically addressed this question and have stated that the income generated from "Rental real estate income is not earned income for purposes of the economic stimulus payment."

But, if this income is "net earnings from self-employment, as is certain farm rent or income received in the business as a real estate dealer," then it would be considered as qualifying income for receiving the Tax Stimulus Rebate.

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