Sec. 2101. INFORMATION REPORTING FOR RENTAL PROPERTY EXPENSE PAYMENTS

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## SEC. 2101 INFORMATION REPORTING FOR RENTAL PROPERTY EXPENSE PAYMENTS ###

(a)In General Section 6041 of the Internal Revenue Code of 1986, as amended by section 9006 of the Patient Protection and Affordable Care Act, is amended by redesignating subsections

(h)and

(i)as subsections

(i)and (j), respectively, and by inserting after subsection

(g)the following new subsection: > > ### “(h) Treatment of Rental Property Expense Payments > > > #### “(1) In general > > Solely for purposes of subsection

(a)and except as provided in paragraph (2), a person receiving rental income from real estate shall be considered to be engaged in a trade or business of renting property. > > > #### “(2) Exceptions > > Paragraph

(1)shall not apply to— > > > ##### “(A) > > any individual, including any individual who is an active member of the uniformed services or an employee of the intelligence community (as defined in section 121(d)(9)(C)(iv)), if substantially all rental income is derived from renting the principal residence (within the meaning of section 121) of such individual on a temporary basis, > > > ##### “(B) > > any individual who receives rental income of not more than the minimal amount, as determined under regulations prescribed by the Secretary, and > > > ##### “(C) > > any other individual for whom the requirements of this section would cause hardship, as determined under regulations prescribed by the Secretary.” > . ###

(b)Effective Date The amendments made by subsection

(a)shall apply to payments made after December 31, 2010.