The passive-loss rules contain some quirky provisions.
In the article titled “Tax Tips for Rental, Non-Rental, and Business Losses” we disclosed what to us appeared to be an obscure non-rental rule.
Not so for Fred Misko Jr. He took what we considered an obscure rule and turned it into $140,749 in tax savings.
It Started as a Rental Arrangement
Mr. Misko, a lawyer, personally leased furniture, computers, and video equipment to his law firm, a C corporation. He paid $1,840,157 for the equipment ... Log in to view full article.