qbteachmt
Level 15

"Where on the 1065 would it be indicated that this is "NOT" a passive activity?"

I think you need to do more research.

"The rental income is short-term in nature, thus they do not need to classify it as a passive activity when incurring losses."

You seem to be confusing time and services provided. You need to know the operations.

Your own link would be used to understand this; click on the other formats, such as Real Estate Agent and Landlord. The passive or active determination is services provided and amount of work put into the operations. Not how long is each rental.

If I lease the house next door to use as AirBnB and hire a housekeeper to come take care of it all as needed, that is Passive.

If I rent out my guest house and manage all the work myself, that is Active.

They are both examples of short-term rental. The timeframe does not determine passive or active. Otherwise, you would tell us the running a hotel is Passive, since no one stays very long.

"Are the buildings depreciated on a 27.5-year useful life?"

It depends on the type of buildings: commercial, residential, storage units, etc.

"How is the land portion of the building stripped out?"

It would be valued separately from improvements and reported as its own asset value.

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