Real estate professional status can provide relief from the Passive Activity Loss Limitation rules and the 3.8% Net Income Investment Tax (“NIIT”), resulting in significant tax savings. Rental ...

Question: I just received our 2022 tax returns from our preparer which are on Disaster Relief extension. We were shocked to discover that our large rental loss we incurred during 2022 due to vacancy ...

Certain income and expenses of a passive activity are not considered passive activity income or expenses in determining passive activity income and loss: income from interest, dividends, annuities, or ...

Q. My wife and I just received our 2021 tax returns from our preparer, which are on extension. We were shocked to discover that the large and expected rental loss we incurred during 2021 provided us ...