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gdevol
New Member

Why isn't my rental losses deductible on my taxes?

 
1 Best answer

Accepted Solutions
IsabellaG
Expert Alumni

Why isn't my rental losses deductible on my taxes?

Here are some possibilities:

  • You checked that you didn't actively participate in the rental (you are allowed up to $25,000 in losses if you actively participate in rental real estate property.
  • Your modified adjusted gross income was too high.The $25,000 deduction is phased out when your modified adjusted gross income is from $100,000 to $150,000, resulting in no deduction above $150,000 (for a married filing joint return).
  • You checked that you were not at risk for your investment.
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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
IsabellaG
Expert Alumni

Why isn't my rental losses deductible on my taxes?

Here are some possibilities:

  • You checked that you didn't actively participate in the rental (you are allowed up to $25,000 in losses if you actively participate in rental real estate property.
  • Your modified adjusted gross income was too high.The $25,000 deduction is phased out when your modified adjusted gross income is from $100,000 to $150,000, resulting in no deduction above $150,000 (for a married filing joint return).
  • You checked that you were not at risk for your investment.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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