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Hi and welcome to Just Answer!As long as all income and qualified business expenses are reported correctly - there is no need for any special forms if your S-corporation involved into several different business activities.On the tax return - header - box "B" - Business activity code - use the code for the principal activity - not for additional activities - http://www.irs.gov/pub/irs-pdf/f1120s.pdfThat reporting is for statistical reasons only - and will not affect tax calculations.
Previous preparer just kept running it as ordinary income and I think it should go on Form 8825
Form 8825 is to report rental income. As my understanding a "bed and breakfast" is a business activity - and should be reported as an ordinary business income.
okay. Thank you so much.