Employee Tax Expert
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Hi there. I'm a CPA and Attorney with over 12 years of tax experience.
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NOLs are different than passive losses.The key to determining when you have a net operating loss is that the loss must be from “operating,” i.e., from “active” ...
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Great answers from the previous expert. Any unused passive losses (rental losses are mostly passive unless you're a real estate agent/attorney) should be carrie...
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Great answer by Marc T. I would add that you don't need to have an LLC to report the rental income and expenses on your tax return. Ruth C-L, CPA
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Great answers from the previous expert. I would add that it is always wise to report capital gains or losses to avoid IRS notices in the future for unreported ...
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