My status changed from F-1 to H-1B status this year on Oct 01, 2022. Since I am now on an H-1B visa, I am planning to buy a house soon, before the end of this year, and my plan is also to rent out other rooms and maybe Airbnb in the future. I researched this is considered passive income and is legal but:
1. I was wondering if I can do the same by opening an LLC. Will this still be considered passive income?
2. Another question, since my status changed from F-1 to H-1 this year, for 2022 taxes, should I still fill out the 1040 NR form or not?
I really cannot tell you that there is a clear guidance from the USCIS on this issue. I would avoid this unless you are the adventurous kind. Just remember one thing: the fact that you were engaged in unauthorized or questionable employment or income generation is less damaging to you than lying about it.