Hi Mark and Mat! Greetings from North Carolina! My daughter has been in an English-style horse riding academy for about five years now where she rides horses owned by other people. We just bought her a horse of her very own and as a horse owner, the program works as follows: We board the horse at the stable where she takes lessons. The horse will be used by my daughter for lessons (2-3x’s per week) plus the instructor will use our horse in her program as a lesson horse for other kids in the academy (20-25 x’s per week). For making our horse available to use in the academy program we receive one lesson free per week which equals about $250 per month. The boarding, feed, vet, etc will cost around $600 per month.
Question - can I treat this as a “horse-rental” business by counting the $250 per month as rental revenue and writing-off the boarding costs, etc as expenses?
Thanks for the show!!
TIG_from_NC