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Updated almost 2 years ago,
Property Managers Impact on Tax
I'm a newbie to STRs (I have LTRs) and looking to start in Branson (3 hours from home). I am debating self-managing vs using a PM, and am struggling to determine the tax impact of that decision.
I know Sch E is where I'll report, but for the determination between passive & non-passive I am struggling to determine the impact of using a PM. Does using a PM automatically make this passive?
I do plan, prior to placing in service, to spend a few weeks furnishing & fixing the unit up, and will hit 100 hours (documented). Not sure if that matters or not.
Also, certainly would welcome any recommendations for a Branson area PM. Thanks!