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- Re: passive rental real estate loss for year - ito shows it as a deductible Schedule E Loss
passive rental real estate loss for year - ito shows it as a deductible Schedule E Loss
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edpage88
Level 1
09-14-2024
12:30 AM
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how to find a way to get ito to record a passive rental real estate loss as passive and not active.
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TaxGuyBill
Level 15
09-14-2024
09:39 AM
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Even though it is Passive income, if their income is under $150,000 and they "Actively Participate", a loss may be allowable (up to $25,000). See lines 1 and 4-11 on Form 8582.
Is that what is happening?
George4Tacks
Level 15
09-14-2024
11:47 AM
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We need more information. You should not need to do anything. Are you doing a Sch E on a 1040? Recording some flavor of K1??
Answers are easy. Questions are hard!
