Mark and Mat,
Thank you for your show and for your mission to help small business owners live out their American Dreams.
My question is:
Is the Section 469-4 Grouping Election allowed for multiple short term rentals to be considered one activity?
After reading the code, it looks like short term rentals - properties with average rental of seven days or less - do not qualify for grouping under rental activities.
To overcome this hurdle, it looks like short term rentals must qualify as a trade or business to be grouped together. There aren’t too many places where trade or business is unequivocally defined.
Going back to the question, do short term rentals qualify as a trade or business to be eligible for grouping?
Thank you again!