Article Date:
August 2008
Word Count:
668
IRS Grants Extension to Group Rental Properties
The IRS granted Mr. and Mrs. Clark an extension to make an election to group all their interests in rental real estate into a single rental real estate activity.
When the Clarks hired a new tax advisor, they learned that because they qualified as being in the real property business, they had available to them the “group or not group” your rental properties option that could release tax deductions trapped by the passive loss rules. Their old tax advisor had never ... Log in to view full article.
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