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Updated almost 3 years ago on . Most recent reply
What scenarios lead to a loss- tax benefit
Hello- I have been reading for years about the benefit of being able to deduct $25K in losses from rental properties (and more if you are a real estate professional). The mystery to me- is how do average people get to this loss? I am including depreciation, taxes, insurance, repairs, and all the typical travel expenses, but still either breaking even or showing a taxable profit. This may be too individual-based and complex for a forum post, but I am curious what expenses or insights others who have successfully used this tax write-off can share. Thanks!