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Updated over 5 years ago,
Sheltering k1 gain with rental loss
I am not a real estate professional and my income is highest tax bracket.
I owe a rental that has loss every year. If I invest in a real estate LLC partnership as a limited partner and get k1 income can I balance them out. If I get 1099 income (because I invested in debt of the LLC partnership) can I balance that out as well.