Rudy Duran
California Full time real estate professional losses limit
Federal taxes, you're allowed to deduct $25,000 of passive real estate losses against your active income eg w2 income that you actively participate. They phase out this deduction starting at 100k agi. However, if yo...
Amol Kulkarni
Property Management, Passive Activity Loss Limitation and Depreciation
Hi all,I've been reading about the Passive Activity rules that prevent passive losses (eg Depreciation) from being offset against ordinary income. Unless of course, the taxpayer shows material involvement and claims t...
Bill Ramsour
Use rental losses against other income?
I'm sure this is asked elsewhere but I wasn't able to find it. I found some things online, but I trust these boards more than the wild web. I have a single family rental. With depreciation, sometimes it's slightly ...
N/A N/A
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...
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 ...
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...
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...
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...
David Crothers
Tax Suggestions for STR Income on W2 Income
Hi all,I've been reading posts on BP for some time now and I'm hoping the community might be able to provide some suggestions. I'm in a bit of a tricky situation, my household annual combined joint income between my w...
Juan Contreras
Limit to how many years you can take a loss against w2?
I make under the limit to be able to deduct 25k against my w-2 teaching income. Is anyone aware of there being a limit to how many years you can consecutively take a loss? I am not sure of how pissed the IRS would be...