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Paul7Kim
Level 1
January 28, 2025
Question

Schedule E - Rental Loss Being Allowed and should not be

  • January 28, 2025
  • 1 reply
  • 7 views

My client owns a condo, and has a rental loss of $27,415.  They earn more than $300,000 and are not active participants in the rental.  However, the $25,000 loss is being deducted on the tax return and is not being phased out.  Any suggestions?

 

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1 reply

IRonMaN
IRonMaN
Level 15
January 28, 2025

Check to see if you have some boxes checked wrong on the schedule E worksheet.

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