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barbgreenx
Level 3
March 26, 2023
Question

Are there any exceptions to the passive Loss limitation?

  • March 26, 2023
  • 1 reply
  • 17 views

My Client this year has a AGI phaseout  on his rental properties all single family homes.

There AGI this year is $188,000.00   The limit is $150,000.00 for MFJ.  They now owes $17,000.00

are there any new exceptions that I maybe able to use this year. Thank you in advance

B Green

 

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1 reply

abctax55
abctax55
Level 15
March 26, 2023

Nope.

Unless you can do something to reduce AGI.  Such as retirement plan contributions (SEP if self-employed, IRA if not), HSA contribution if qualified.

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