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Schedule E - Rental Loss Being Allowed and should not be

Paul7Kim
Level 1

My client owns a condo, and has a rental loss of $27,415.  They earn more than $300,000 and are not active participants in the rental.  However, the $25,000 loss is being deducted on the tax return and is not being phased out.  Any suggestions?

 

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1 Comment 1
IRonMaN
Level 15

Check to see if you have some boxes checked wrong on the schedule E worksheet.


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