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Article Date:
March 2012

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Sale of Three Rental Properties Releases Passive-Loss Deductions on Six Rental Properties

The IRS audited Raymond Vandegrift’s tax return, disallowed his rental property passive losses, and asked him to pay $53,568 in taxes and $10,714 in penalties.


Mr. Vandegrift said, “No,” and took the IRS to court.


Fails Real Estate Professional Test


Mr. Vandegrift was a successful salesman in a field unrelated to his real estate activities. In court, he claimed that he spent more time on his real estate rentals than he spent being a successful salesman.


The court found Mr. Vandegrift generally honest and ... Log in to view full article.

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