dm2
Level 3

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This is what I found

Rental property owners who have a modified adjusted gross income of $100,000 or less are permitted by the IRS to deduct up to $25,000 in rental real estate losses each year their property is in service (they actively participate in rental activity). However, the $25,000 allowance is tapered for those who’s modified adjusted gross income is higher than the previously discussed $100,000 threshold.