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Investors & landlords
@go_dores wrote:
....And it says my profit or loss is zero. It subtracts from my expenses to force the total to zero.
You're likely be limited by Section 280A.
This is difficult to understand. If you use your vacation rental as a residence, then that takes the property out of Section 469 (passive activity loss limitations). However, personal use still needs to be accounted for and any loss can still be limited by Section 280A.
March 25, 2024
6:24 PM