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Get your taxes done using TurboTax
Yes, since you do not materially participate in the rental real estate, the loss is subject to the passive activity loss rules as Mike9241 describes above. For a rental property, the exception is if you actively participated in the rental property, then you could deduct up to $25,000 of your rental loss even though it’s passive. See more information here: Real Estate Tax and Rental Property
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May 16, 2021
2:41 PM
1,263 Views