robin
Level 1
12-07-2019
06:11 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Did the passive loss rules change for rental real estate? Can I still deduct up to $25,000 in losses?
Solved! Go to Solution.
Labels
itonewbie
Level 15
12-07-2019
06:11 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
There's no change to the special allowance. Did you check the box by accident that the taxpayer did not actively participate? Was the MAGI in excess of $150k?
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
robin
Level 1
12-07-2019
06:11 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you! I appreciate your response. The MAGI was well over $150,000.
itonewbie
Level 15
12-07-2019
06:11 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Not a problem, @robin!
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
