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Updated over 4 years ago,
Married and cant writeoff rentals anymore?
Hi All!
I am getting married next year and I am trying to ensure all is in order. I always writeoff my rental losses each year
Ex. I make 80k and she makes 80k
My understanding is if your agi is under 100k you can fully deduct, over 100k partially deduct, over 150k then you cant deduct anything
These numbers are the same if you are single or married? If so, what do folks do so they can still writeoff?
As ex.80k single i can writeoff all of my rental losses, but once married (ex. 160k) we cant writeoff anything?
Note: I know most folks on here are about cashflow, which they might not have this. My approach has been different, as ive bought in good areas where i mostly break even and the goal is for them to be paidoff (then income streams) by retirement along with them appreciating too. I wanted to mention, as everyone has their approach that works for them, which id assume with this question that might get brought up about what am I doing
Thanks!