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Peter,

Thanks for the time and the clarification... and the idea; all of the lease-options I do ARE in the realm of professionally lending money, and therefore ARE a separate business from the real-estate. I keep my schedule E's for my rentals, but Schedule C all my lease-option incomes (and, not incidentally, the six personal loans and two car loans I've given last year). I certainly spend more time (and make more money) dealing with the lease-options and loans than I do on rentals!

The only IRS docs I can find specifically regarding the "business of lending money" is 6050P and Pub544; both referring to Canceled Debt, and information returns springing wherefrom (1099-C). It is also mentioned in a number of places, including Pub550, but as a "not in the business of lending money" sense!

Are there any IRS pubs, bulletins, or notices that would let me research this more?


Thanks again,
-jon
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