Rental Real Estate Treated as Schedule C Income
I have a cient with 5 pieces of residential real estate and he and his wife actively and materially partifipate. They do the repairs, leasing of the property, etc. They both have full time jobs also but the husband is a pilot and is home a good bit during the week and spends a substaniial amount of his time dealing with rental property issues. Can I treat this as Schedule C income/loss and get the benefit of all the losses? Their income exceeds $100,000 and so they are often limited to a small deduction.