Mark163
Level 2

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? 

0 Cheers