Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
March 2010


Word Count:
1393

 

 

How to Materially Participate to Deduct Rental Property Tax Losses


If your rental properties produced a tax loss and the $25,000 deduction allowance either is not available to you because you earned too much money or is inadequate, you need to strive for real estate professional status so that you may deduct your rental property losses.

 

You can be a lawyer, CPA, MD, or business owner and still qualify as a real estate professional. See the article titled “Qualify as a Real Estate Professional to Deduct Rental Losses.”

 

You achieve real estate professional status in a tax year when you1

 

1.

work more than 750 hours in real estate trades and businesses, and

2.

have more personal service hours in the rental activities in which you materially participate than you have in your other activities.

 

You achieve real estate loss deduction status on a rental activity when

 

·

you or your spouse is a real estate professional, and

·

you ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee



 

SS