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Schedule E vs 1065 for short-term rental with mother

Level 1

Can a mother and daughter that own a short-term rental together (50/50) both file schedule E with net profit split in half on each return, or do they need to file 1065?

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1 Comment 1
Level 4

When you apply for an EIN with the IRS, the letter that is sent to you will show you how to file. If your client  has not applied for an EIN for the rental, yes you can split the income and expense and file on Schedule E

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