Rental Property Loss Deduction Rules 2020

Published on December 5, 2020

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This video is about claiming rental losses from your rental property discusses the passive activity loss rules and the exceptions to them. Rental property loss deduction rules are explained in this video. We will discuss the passive activity loss limitations for your rental property and how you can bypass those limitations with the real-estate professional exception in order to utilize your passive activity losses.

We also discuss the passive activity loss rules, the phase-out based on modified adjusted gross income, and the circumstances where the passive rental losses can be utilized or are released.

Regarding the professional real estate exception rule, here is the guidance provided by the IRS: https://www.irs.gov/pub/irs-utl/33-Real%20Estate%20Professionals.pdf

So this is a great topic for those of you in real estate or are accumulating rental properties. Please be sure to check out my other videos discussing rental property tax deductions and the tax consequences on the sale of rental properties.

But if you have any questions or comments on this video about the utilization of rental losses from your rental property or rental properties, please don’t hesitate to reach out. We hope this helps you understanding the tax treatment of passive loss rules for real estate with the IRS and also how to potentially utilize the exceptions in your favor to speed up the usage of your deductions in the current years or in the years soon to come.

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