can I combine sched E into my sched C ? Hi
I am a realtor. I have many rentals, which I have filed using sched E for many years. I also have a schedule C for my real estate activities as a realtor.
Can I combine my sched E rentals into my sched C and thereby reduce my SE tax. I have elected as a "real estate professional" and can deduct all my real estate rental "losses" from my income, but until now I have paid full SE tax on my net sched C income. If I can deduct my sched E directly from my sched C, I would be able to reduce my SE tax by a lot.
Thank you |