I am in the process of preparing my partnership 1065 return. Is investment realestate the same as rental?

Posted on February 19th, 2010 by admin in realestate properties | 2 Comments »

I invest and sell the properties only.

You can probably use the business code 531390 – Other activities related to real estate

http://www.irs.gov/instructions/i1120f/11455t11.html

2 Responses

  1. woodluvto Says:
    February 19th, 2010 at 9:13 am

    No. Investment real estate is not treated in the same fashion as rental property. For example, on investment real estate your interest is deductible only to the extent of your net investment income.
    References :

  2. tma Says:
    February 19th, 2010 at 10:00 am

    You can probably use the business code 531390 – Other activities related to real estate

    http://www.irs.gov/instructions/i1120f/11455t11.html
    References :

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