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Level 3
07-07-2020
02:44 PM
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Scenario :
Client with a Vacation/Rental property allocated 299 Rental days / 66 days personal (~82% rental use)
The total rental loss is $116K - Proseries is classifying as "other passive exceptions" and allowing ~$32K current year deductible rental loss on Schedule E and Schedule 1. Shouldn't this be "0"?
Shouldn't the full $116 rental loss be suspended and show up on 8582?
Thanks.
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