Tax Reduction Letter

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Article Date: May 2010
Word Count: 661

Tax Tips Needed on Land and Self-Rental Passive Loss Traps

If you don’t qualify as a real estate professional and can’t deduct losses using the $25,000 deduction allowance discussed in the article titled “Qualifying for Rental Real Estate’s Tax Favored $25,000 Allowance,” then your best strategy is to offset passive losses with passive income.

Passive income comes from only two sources:1

Net rental income

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