@Wei Jie Yang There's no one right way to do a partnership.

Even if your MAGI is under the $150k mark you're not mterially participating in the activity.

What is it that makes you the ying to someone yang?

If you've ever watched Silicon Valley, it's like Jin Yang's "Hotdog" app.

In other words, it includes net gain from the disposition of nonbusiness property and property held in passive business activity.High-income individuals are subject to an NII tax equal to 3.8% of the lesser of: [IRC Sec. 1411(a)]1) Net investment income (NII) or2) The excess (if any) of modified adjusted gross income (MAGI) over the threshold amount.MAGI defined.MAGI is adjusted gross income (AGI) increased by any foreign earned income exclusion, net of the deductions and exclusions disallowed with respect to the foreign earned income. 

There is a phase out if your MAGI is above $100,000 and completely lose the deduction once you hit $150,000.

@Yang ZhaoI always recommend RentWell.

@Sean Yang even though the offer expired, the listing agent is most likely in talk/negotiation with the buyer's agent that put in the offer.

The basic deduction concepts are already mentioned above by other members here.Are you guys tax’s real estate professionals or  have MAGI less than 150k?

Please let me know if I can't add the capital gains and W-2 wages, and subtract the $25k rental loss, to end up at MAGI!