I have two rental properties. One is raw land the other a residence. The land has income the residences a loss. The loss is not offsetting the income, why?

Forum|Forum|3 years ago
March 13, 2023
2 replies
20 views

AGI is over 200K

ProSeries Professional

This topic has been closed for replies.

rbynaker

Level 13

Land rent is quirky. See if this article answers your question:

https://www.cohencpa.com/knowledge-center/insights/april-2018/the-tricky-business-of-classifying-income-from-land-rents-on-your-tax-return

T

Terry53029

Intuit Community Champion

As @rbynaker said land rental is tricky(the link did not work for me). If you rent land and do not participate in the business use of the land it is considered non passive income. If you participate in the business use of the land it is considered business income. Either way you can not net income from land rental with a passive rental income

rbynaker

Level 13

I thought it was just me. Try right-click on the link and "open in new tab" (or window). Sometimes when I click on a link in the community it just jumps me to the bottom of the page. Just started recently, figured I may just need a reboot but sounds like a bigger problem if you're also having trouble.

rbynaker

Level 13

@Intuitjhaze

I think I'm seeing this problem consistently. External links do not work and just redirect me to the bottom of the page. It could be a browser issue, I'm running Chrome Version 111.0.5563.64. I can right-click on a link in a post and select "open in new tab" and it works fine, but a direct mouse click does not work.

I thought it might be just me until Terry mentioned it as well. Anyone else having problems? What browser?

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