Worst case, it gets outlawed in a town AFTER you’ve bought a place there & now you have to sell at a HUGE loss bc there’s no buyer demand once STR use is banned!

Hi - sorry for your loss - I would like to buy your fathers house.Or what are you planning on doing with your fathers house.Or I would like to take the burden off your shoulders of your fathers house.Or whatever you can say that sounds like you mean it and that your not some vulture picking the meat off his dead dad.Your here to help him and create a win-win for the both of you.Maybe soemthing like I can help make you a few bucks and get that house off your to-do list - share some $$ with him.

I have a loss on a single rental property of about $3,500.

While there isn't capital gain, how difficult would it be to just pass them on with 0 loss?

He received his k-1's and has a substantial loss in the partnership.

My CPA, who signs my returns but really has little risk here, will usually present me with my options, advice on the potential risks, and the possible consequences.I’m curious, since H&R Block provides the E&O insurance, is there any pressure on its agents to remain conservative and maybe not provide its clients with all their options to minimize insurance claims and losses?

Once a new tenant is found you have mitigated some of the possible loss.

None of that is a reference to how well you invested and whether you have a perceived loss or gain.

Get an attorney, if the permit was issued prior to the FEMA reg, screw FEMA and the city, thier mistake is not your loss, sue thier tails for the loss.Other wise, dump it and get what you van and walk away.

Someone told me that for passive investment, we cannot claim a loss and use the loss to offset our other income, if I include depreciation in my calculation, then I will have a loss in my rental ppty. thanks