Busy123
Level 3
07-12-2020
02:57 AM
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In 2018 my client filed HOH and his rental property had a negative net income. His MAGI was below $100K. For 2019 he filed MFS, his expenses are capped at the amount of rent he received. His 2019 MAGI was $77K. My client actively and material participates in his rental property management. Researching this, I believe his loss is limited to rental income because the client's MAGI exceeded $50K for MFS. I tested this conclusion. I reduced the clients MAGI to below $50K. His rental loss was still limited to is rental income. Why? Is this a flaw in ProSeries Basic?
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