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E
edpage88
Level 1
September 14, 2024
Question

passive rental real estate loss for year - ito shows it as a deductible Schedule E Loss

  • September 14, 2024
  • 2 replies
  • 8 views

how to find a way to get ito to record a passive rental real estate loss as passive and not active.

    This topic has been closed for replies.

    2 replies

    T
    TaxGuyBill
    Level 15
    September 14, 2024

    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
      George4Tacks
      Level 15
      September 14, 2024

      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??

       

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