ETax847 Posted January 15, 2018 Report Share Posted January 15, 2018 Client has a multi unit rental and he lives in one of the 4 units. Do the other three units need their own sch E or can the 3 rental units be lumped into one sch E? Thanks and Happy MLK Day! Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 15, 2018 Report Share Posted January 15, 2018 Typically they would go in one Sch E, however I could someone that charges per Sch E separating them to collect more fees. Quote Link to comment Share on other sites More sharing options...
ETax847 Posted January 15, 2018 Author Report Share Posted January 15, 2018 I was thinking one sch e to save on fees as well. Thanks Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 15, 2018 Report Share Posted January 15, 2018 If they are all 27.5 yr depreciation, lump sum in one Sch E, however in some cases you do have to separate them if it’s mixed use (commercial). Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted January 15, 2018 Report Share Posted January 15, 2018 51 minutes ago, ILLMAS said: If they are all 27.5 yr depreciation, lump sum in one Sch E, however in some cases you do have to separate them if it’s mixed use (commercial). I find it easier just to split the assets with different rates. 1 Quote Link to comment Share on other sites More sharing options...
Possi Posted January 15, 2018 Report Share Posted January 15, 2018 1 hour ago, Abby Normal said: I find it easier just to split the assets with different rates. I do this, too. If they decide to take over another unit as personal use, it's already split as well. But mainly for the assets. And for the fees. I do love money. LOL 3 Quote Link to comment Share on other sites More sharing options...
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