Passive Rental Income or Loss

Forum|Forum|3 years ago
November 18, 2022
3 replies
38 views

What qualifies as passive Rental Income or Loss?

What are the exceptions to being able to claim a passive rental loss?

Who qualifies as a real estate specialist?

ProSeries Basic

This topic has been closed for replies.

T

Terry53029

Intuit Community Champion

Perhaps you should take some CE credits on the subject, and here is a link to pub 925. There is an exception that allows a $25000 loss which is shown in pub 925. Also, in pub 925 you will find the definition of a Real estate Professional.

https://www.irs.gov/publications/p925.

abctax55

Level 15

PIGS/PALS came into being 1986/87 if I remember correctly.

And I remember takes WEEKS of classes to properly address the issues involved.

HumanKind... Be Both

T

TaxGuyBill

Level 15

As was mentioned above, there is A LOT involved, so start with Publication 925. After you've read through that a couple of times, feel free to ask us any specific questions that you couldn't figure out in the Publication.

R

rcooley25Author

Level 7

Am I right in saying one of the big stumbling blocks are whether or not the owner is an active participant in the operation of the rental property or not?