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Investors & landlords
The problem is that you have checked the box that you are at-risk.
This means that you have tax basis and your losses are allowed.
As such, that is why when you include the loss it will decrease your tax liability.
You need to uncheck the "at-risk" question box.
This means that you have tax basis and your losses are allowed.
As such, that is why when you include the loss it will decrease your tax liability.
You need to uncheck the "at-risk" question box.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 6, 2019
7:43 AM