Mark163
Level 2
08-11-2020
06:35 PM
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First of all, thank you for your reply. And I did considered the passive loss issue. However, when all properties were under one roof( S corp or Partnership) , their income and expense will offset with each other in the business level , right? Eventually it will result one single outcome: passive gain or loss no matter whether you keep separate income/expense for each properties within that business. It is on the individual level where we have the passive loss issue. Did I miss something?