Max owns an office building that he rents for 750 a month, Ask an Expert

Management Studies

Max owns an office building that he rents for $750 a month. Under the terms of the lease, the tenant is responsible for paying all property taxes and costs related to the building's operation and maintenance. The only cost to Max in relation to the lease is an annual legal fee for renewing the lease. Is Max engaged in the trade or business of renting real estate? How would you classify his deduction for the attorney's fee?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M91700888

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