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Hotel Income - Tax Reporting

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    Hotel Income - Tax Reporting

    Client is in the hotel business and has rental income. What schedule is used to report the rental income and related expenses?

    #2
    Originally posted by Florida_EA View Post
    Client is in the hotel business and has rental income. What schedule is used to report the rental income and related expenses?
    What type of business entity is the Hotel business? It would depend on that.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      Originally posted by ATSMAN View Post
      What type of business entity is the Hotel business? It would depend on that.
      It is a partnership Form 1065

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        #4
        Originally posted by Florida_EA View Post
        Client is in the hotel business and has rental income. What schedule is used to report the rental income and related expenses?
        Are you talking about non Hotel income.. IE rental income from an apartment/lot?

        Chris

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          #5
          Originally posted by spanel View Post
          Are you talking about non Hotel income.. IE rental income from an apartment/lot?

          Chris
          This is hotel income - like franchise ownership of one of the hotel chains. This is not residential or apartment income.

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            #6
            Goes on the 1065 as a trade or business. Subject to SE tax.
            Jiggers, EA

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              #7
              Originally posted by Jiggers View Post
              Goes on the 1065 as a trade or business. Subject to SE tax.
              Agreed. The income from the Hotel is not Rental income/expense. Its normal income/expense.

              Chris

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