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2018taxpx
Returning Member

what is the special allowance on Passive income?

 
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tagteam
Level 15

what is the special allowance on Passive income?

The special allowance is up to $25,000 of loss from rental activity that can be deducted from nonpassive income.

 

See https://www.irs.gov/instructions/i8582#idm140476817099568

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tagteam
Level 15

what is the special allowance on Passive income?

The special allowance is up to $25,000 of loss from rental activity that can be deducted from nonpassive income.

 

See https://www.irs.gov/instructions/i8582#idm140476817099568

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