Real property, generally buildings or structures, if 80% or more of its annual gross rental income is from dwelling units. Expenses generally paid by a buyer to research the title of real property. You can use Schedule LEP (Form 1040), Request for Change in Language Preference, to state a preference to receive notices, letters, or […]

Generally, you are considered to actively conduct a trade or business if you meaningfully participate in the management or operations of the trade or business. To qualify for the section 179 deduction, your property must have been acquired for use in your trade or business. Property you acquire only for the production of income, Certified […]