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gp0730
Level 1
July 8, 2020
Question

Rental Property Deduction for High Income

  • July 8, 2020
  • 1 reply
  • 12 views

My client's income is over $200K.  If he puts his rental properties under LLC, will he be able to deduct his rental losses?  Is there a better way to be able to deduct the losses?

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1 reply

sjrcpa
sjrcpa
Level 15
July 8, 2020

Putting in an LLC does not change the passive classification.

Only way to deduct losses:

Have passive income from other sources

Sell the property

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    July 8, 2020
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