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Investors & landlords
Losses are limited by the passive activity rules. and basis. You should have income for the house to be a rental. Expenses before rent are added to the basis. Perhaps something in the property profile set up is wrong. Compare your two properties to be sure both are marked the same -other than the conversion factor. Double check pub 925 since your basis may be an issue.
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‎January 29, 2024
9:49 AM