[KennyBlanken]

Buying an investment property isn't a job. It's an asset, that possibly generates income. That is not a job. That's an investment.

A W-2 job isn't an investment. It's a job.

A hobby isn't a job or investment, it's a hobby.

You absolutely do have tax consequences if quitting the hobby involves selling equipment, particularly if that equipment was something that has to be registered, like a boat, car, ATV, etc.

[kccqzy]

It is a job. You need to manage and select tenants and handle repairs and maintenance. Managing one rental property is like a part-time job. But W-2 jobs may be part time too. It’s not like an REIT.

There are no tax consequences for quitting a hobby because you can’t deduct any expenses for hobbies in the first place, let alone any depreciation for these equipment.