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Updated about 15 years ago, 12/10/2009
Tax deduction for losses
Hi,
I have couple of rental properties which currently generate losses (because of depreciation etc).
My accountant is telling me that I cannot deduct losses from my income because I make more then 150k at my day job. Thus I cannot take advantages of losses I have on my rental properties.
Any suggestion how I can put this losses to good use to decrease my taxes ?
I am open to any suggestions (forming LLC or what ever).
Thanks in advance for your help, Alexi