moonpetty58
Level 3
04-18-2023
02:26 PM
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I HAVE HAD previous discussion on this issue. I just need to understand why t/p expenses are being disallowed due to Passive Activity Limits and At-Risk Rules. T/p actively and materially participated in obtaining and maintaining this property from the date of purchase-August 2022. T/P did not get a renter until April 2023. It just seems to me like a lost adventure. Reading the Residential Rental Income and Passive Activity /At Risk rules seems not encourage investment in rental property. I know that this is the last tax deadline day. Help!
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