This is for tax year 2020*
5 total properties
2 rentals
Paving company made $175,000
Storage company made $62,000
lot 73. has 2 rentals and used on schedule E property taxes $4,929.04
lot 75. property taxes are $20,979.91 (on this is the main home/ storage sheds for storage business/ where the paving equipment is)
lot 77. just open lot no storage (keeps boats and misc. things there) $3,575.56 property taxes
lot 59. empty house property taxes $4,026.06 Other on schedule A
lot 5. another rental property taxes $1,986 Schedule E
Can I put a home office on both schedule Cs? One for paving company/ one for storage company if it is the same home office? Should I just put it on the paving company since it makes the most money?
Mortgage interest was $26,610.53 in 2020
Property taxes was $20,979.91 in 2020
HO ins I don't have
Solar lease payments were $501 a month
its the same office for different businesses
Yes, but it has to be allocated by use. I usually put it on the business with the highest income.
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