we have a simple partnership/llc for a airbnb rental we own. what conditions avoid self employment tax?
we rent the airbnb for less than 7 nights at a time. can we avoid owing self employment tax on years that have a gain and also have 'active losses' (to lower taxable amt on our personal 1040's) in years that dont turn a profit?
is it a question of "material participation" and "do we provide services" ?
is it a question of "material participation" and "do we provide services" ?