
Anonymous
Not applicable
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Investors & landlords
what Carl is saying is that with high income, if the rental property loses money, that loss will not be deductible in 2019 so there would be no benefit in prepaying the expenses. rental activities are by law passive so if your modified adjusted gross income is above $150,000 the passive loss will not be allowed but would have to be carried forward to 2020,
of course if it's profitable, the income will be taxable.
‎December 13, 2019
12:51 PM