Keith Hoffman II
Tax Deduction for Rental Property Mortgage Interest
My accountant told me that b/c my income is over 150K, the interest paid on my rental property mortgages are not deductible. I would only be able to claim these ductions if my income falls below 150K or when I sell ...
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Getting around the AGI limit for passive-loss deductions
My wife and I are looking into shopping for a rental property. However, our AGI is above $150,000 a year, and neither one of us is a real estate professional.
Because of that, it looks like I would not be able to ded...
Mary Joe
Is C corp also subject to the passive investment loss limit?
Sorry if this has been discussed already.
Say if I have a rental property owned under a C corp.
I am the sole shareholder of the C corp.
Besides owning the rental property, the C corp actually engages in other...
Mike Stevens
Short term rental
HelloDoes anyone know if the short term rental tax depreciation against w2 income has an income limit?I know there is 150k income limit for long term rentals. Does this apply to short term rentals?Regards mike
Ricardo Garcia
2-Year Extension of the Limitation on Excess Business Loss
Hi All,Please, I need your help understanding the new IRS law starting January 2023, which will only allow you to claim losses on your business for three out of five tax years. If you don't show that your business is ...
Manson C.
Passive Activity Loss Carryover after Marriage?
Hello. I am a single real estate investor whose Modified Adjusted Gross Income (MAGI) is under $150,000. I have a $50,000 Passive Activity Loss Carryover (PALC) from previous years. I will be getting married later thi...
Julio Gonzalez
Is Cost Segregation Beneficial to Passive Investors?
A question that I am frequently asked is whether or not passive investors are able to benefit from a cost segregation study. The strategy is more often talked about relative to active investors, however with the right...
Tim Rogers
Another Real Estate Professional Status Question
Hi All,
Long time lurker here. I have read dozens of posts about REP status and it's still clear as mud to me. I am hoping someone educated can chime in on my specific situation.
I am a high income earner, owning a ...
Daniel Dietz
Cost Segregation Study - Partners in LLC EACH get 25K Loss Limit?
Hello All, I have been reading up on Cost Segregation Studies a bit. I hold most of my properties in 3 way LLCs. If the LLC has a Cost Seg. Study done and it comes up with say 90K of depreciation for a 75K 'loss', can...
Daniel Dietz
What are Passive Loss Limits in an LLC with multiple members?
Hello All, I have been reading up a lot on Passive Losses lately as we have been looking at some larger properties and considering using Cost Segregation along with that. These purchases would be through LLCs that var...