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| Name | Taxes For Landlords: Rental loss limitations |
| Video Uploader | Video From The Tax Geek |
| Upload Date | This Video Uploaded At 23-05-2022 23:23:05 |
| Video Discription | Frequently, when renting real estate, the result is a net loss. But can you use this loss to offset other income? This tells you the circumstances where you can and when you can't. Besides providing a basic overview of passive activity loss limitation, this video describes the $25,000 "special allowance" for rental losses, and defines what a "real estate professional" is with regard to renting properties. Additional Information and Resources: IRS Publication 925: "Passive Activity and At Risk Rules:" https://www.irs.gov/pub/irs-pdf/p925.pdf IRS Publication 527: "Residential Rental Property": https://www.irs.gov/pub/irs-pdf/p527.pdf IRS Schedule E: "Supplemental Income and Loss": https://www.irs.gov/pub/irs.pdf/f1040se.pdf IRS Form 8582: "Passive Activity Loss Limitations": https://www.irs.gov/pub/irs.pdf/f8582.pdf IRS From 8995: "Qualified Business Income Deduction (Simplified)": https://www.irs.gov/pub/irs.pdf/f8995.pdf nolo.com: "Can You Deduct Your Rental Losses?": https://www.nolo.com/legal-encyclopedia/can-you-deduct-your-rental-losses.html The Tax Geek on Twitter: @taxgeekusa The Tax Geek on Reddit: www.reddit.com/r/askataxgeek Image Credits: Wikimedia Commons. (CC-SA 4.0) NatGeoLover Rossograph Stilfehler Pexels.com The images of "Alice and "Darryl" were generated by thispersondoesnotexist.com and any resemblance between their likenesses and any person, living or dead, is incidental and not intended. Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Audio Library Outro Music: "Modern Attempt" - Track Tribe via YouTube Audio Library DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional. The information in this video is current as of date of publication, and is subject to changes. yRAIiPCeW_0 |
| Category | Education |
| Tags | federal income taxes | passive activity losses | rental losses | $25000 rental loss special allowance | real estate professional | IRS form 8582 | IRS Schedule E |
