S-Corp For Rehab And Rental Property
This year created an S-Corp for Rehab and Rental Business. Plan to do 2/3 projects per year. I currently own 4 rental properties. The properties are owned by me (not the S-Corp). Right now the S-Corp is collecting rents and paying all rental expenses, including the mortgage payments. I have previously reported the properties on Sch E. Do I continue to use the Sch E, or do I report income and expenses (including mortgage interest) on the S-Corp return? Also, do I eventually have to pay myself a salary?
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