Are there any exceptions to the passive Loss limitation?

barbgreenx · ‎03-25-2023

My Client this year has a AGI phaseout on his rental properties all single family homes.

There AGI this year is $188,000.00 The limit is $150,000.00 for MFJ. They now owes $17,000.00

are there any new exceptions that I maybe able to use this year. Thank you in advance

B Green

abctax55 · ‎03-25-2023

Nope.

Unless you can do something to reduce AGI. Such as retirement plan contributions (SEP if self-employed, IRA if not), HSA contribution if qualified.

HumanKind... Be Both

Skylane · ‎03-25-2023

Earn less money.

If at first you don’t succeed…..find a workaround

barbgreenx · ‎03-26-2023

The only thing different this year my client

took a distribution from his retirement account

to cover some legal fees. This put him over

The limitation

Thanks for your comment

B Green