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  1. #1
    Join Date
    Jan 2012
    Location
    New York City
    Posts
    19

    Default When Do You File a Schedule E vs. a Schedule C

    I live in NY.
    I have a Chinese high school student living with us 10 months of the year and receive a monthly stipend.
    I log all miles driving her, and a % of households costs for her expenses - the rest is profit.
    I have a contract with her agency - but no lease.
    Do I file a Schedule C or E? I need to be able to deduct what she costs me, so I was thinking C.
    Thank you in advance for your help!

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Student Room and Board - Schedule C or E

    Schedule E. You can still deduct the expenses. You may wish to consult a tax advisor. In addition to the rental income you have depreciation issues to deal with.

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