Excess business losses are capped for single individuals at $250,000 and for married individuals at $500,000, with any surplus being suspended and carried forward.

Section 121 allows a taxpayer to exclude $250,000 of gain($500,000 if married filing) joint on the sale of a personal residence that was lived in for 2 out of the last 5 years.

Am I allowed to partner with my husband on this since we are married?

But I can see that there are probably some larger operations out there that are married to quickbooks and this could help them.

Around the time we were getting ready to convert our 3rd A Class property into a rental while living in it, I was then married with a soon to be coming son.

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

To have your activity qualify as material participation, you must meet one of the following tests:-Work more than 500 hours in the activity (a married couple can count the involvement of both spouses to meet this test)-Do substantially all the work in the activity-Work more than 100 hours in the activity, and no one else worked more than the taxpayer (including non-owners or employees)-The activity is a significant participation activity and your total time in all significant participation activities exceeds 500 hours-You materially participated in the activity in any five of the prior ten years-You materially participated in a personal service activity for any three prior years-Based on all facts and circumstances, you participate for more than 100 hours in the activity on a regular, continuous or substantial basis during the yearPractically speaking, this means you’re doing the work on your rental properties rather than hiring a property manager.

What aren't you disclosing that you are married but buying as your sole and separate property, or why isn't she?

Its a temporary situation and I am sure you have heard the phrase "Marry the home, Date the Rate!"

I have read several threads on this, but I am a newbie and still a bit confused.We are married filing jointly with an income close to 150k last year.