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Updated over 5 years ago,
Long Term Rental Properties- Schedule C or Schedule E????
I'm in process of switching accountants, and my old accountant had always put all my long term rentals under Schedule "C" when filing. However, my new accountant is telling me that all the long term rentals should have been filed under Schedule "E" and that he wants to go back and amend last 3 years of tax returns. I asked my previous accountant about it, and she said that since my sole business is rental properties, that it HAS to be filed as a Schedule "C" since its being run as a business. Thoughts?