I think there is a gray line out there someplace that separates a business and personal rental activity. Personally, I keep a separate account for a rental house we own. It's just simpler at tax time to have the income and expenses in one place for that house. But even though the IRS lets me treat it as a business (for tax purposes), providing certain tax benefits, I don't consider it a business -- I sure as heck could not survive on the income.
As suggested earlier, it's largely a matter of dollar magnitude and bank policy, along with customer preference.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8