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Updated almost 6 years ago,

User Stats

50
Posts
11
Votes
Philip C.
  • Pasadena, CA
11
Votes |
50
Posts

Am I a "Business" or "Investor" for Tax Purposes?

Philip C.
  • Pasadena, CA
Posted

Hello,

According to NOLO's Tax Deduction Guide, the waters are somewhat murky when determining whether a rental property owner is a "business" or "investor."  I own one out-of-state single family residence that has tenants and I pay a property management company 10% of the monthly rent. 

Which one am I for tax purposes?

On a side note, can I depreciate a stove, refrigerator and washing machine if the previous owner installed it a couple of years ago?

Thank you,

Philip

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