Does Car Wash/Laundry income/expenses belong on Form 8825 or pg1 1065? I have a LLC client who owns rental real estate with a Car wash/Laundry on the property.
Does Car Wash/Laundry income/expenses belong on Form 8825 or pg1 1065? I have a LLC client who owns rental real estate with a Car wash/Laundry on the property.
New client had previously reported rental income and Car Wash/Laundry income on 1065 8825. Should the Car Wash and Laundry be treated as ordinary income?
If he is the one actually selling the car washes, yes.
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