I fall under the below exceptions, and I actively participate in a rental real estate activity, but the software is still saying that I do not qualify, why?
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But this exception phases out as your income rises.
- If you have modified Adjusted Gross Income over $100,000, the $25,000 rental real estate exception decreases by $0.50 for every dollar over $100,000.
- The exception is completely phased out when your modified adjusted gross income reaches $150,000.****
