Dear Tax Talk,
I know about the $25,000 cap on net losses for rental property, and it’s my understanding that the $25,000 is per person, regardless of the number of properties I own. What happens if there is one rental property owned by two people? It doesn’t seem reasonable that the deduction is still $25,000 per person (for a total of $50,000 on one property).
— Bob (more…)
Posts Tagged ‘losses’
Figuring losses on rental property
Tuesday, March 24th, 2009Tags: Figuring, losses, property, rental
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