{"id":89,"date":"2024-07-30T05:39:00","date_gmt":"2024-07-30T05:39:00","guid":{"rendered":"https:\/\/www.pjoocpa.com\/blog\/?p=89"},"modified":"2024-07-30T12:43:23","modified_gmt":"2024-07-30T12:43:23","slug":"rental-property-owners-with-rental-loss-tax-guidelines","status":"publish","type":"post","link":"https:\/\/www.pjoocpa.com\/blog\/2024\/07\/30\/rental-property-owners-with-rental-loss-tax-guidelines\/","title":{"rendered":"Rental property owners with rental loss &#8211; tax guidelines"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"852\" height=\"410\" src=\"https:\/\/www.pjoocpa.com\/blog\/wp-content\/uploads\/2024\/07\/GettyImages-1132329631.jpg\" alt=\"Real estate agent sitting at the desk by the window and passing keys to his client in the office\" class=\"wp-image-90\" srcset=\"https:\/\/www.pjoocpa.com\/blog\/wp-content\/uploads\/2024\/07\/GettyImages-1132329631.jpg 852w, https:\/\/www.pjoocpa.com\/blog\/wp-content\/uploads\/2024\/07\/GettyImages-1132329631-300x144.jpg 300w, https:\/\/www.pjoocpa.com\/blog\/wp-content\/uploads\/2024\/07\/GettyImages-1132329631-768x370.jpg 768w\" sizes=\"auto, (max-width: 852px) 100vw, 852px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The passive loss rules do not allow deducting rental real estate losses against other active incomes.&nbsp; But there are certain exceptions and limitations.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as developers, brokers, landlords, etc.<\/li>\n\n\n\n<li>Joint filers who both participate in real estate can\u2019t combine their hours to meet this test.<\/li>\n\n\n\n<li>Deducting limitation applies for people who actively participate in the rental activity.&nbsp; Only up to $25,000 of rental losses can be taken. Furthermore, this amount phases out as modified adjusted gross income (AGI) exceeds $100,000. For AGI exceeding $ 150,000, losses will completely be phased out and will be stored as \u2018suspended carry over losses to the futures years until this property will be sold or discarded. This carry over loss will be eventually offsetting against other active incomes to reduce potential tax liability.<\/li>\n<\/ul>\n\n\n\n<p>For more detail consultation, please contact our office,&nbsp;<a href=\"http:\/\/www.pjoocpa.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.PJooCPA.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The passive loss rules do not allow deducting rental real estate losses against other active incomes.&nbsp; But there are certain exceptions and limitations. For more detail consultation, please contact our office,&nbsp;www.PJooCPA.com<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-89","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-passive-loss","7":"entry","8":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/posts\/89","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/comments?post=89"}],"version-history":[{"count":1,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/posts\/89\/revisions"}],"predecessor-version":[{"id":91,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/posts\/89\/revisions\/91"}],"wp:attachment":[{"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/media?parent=89"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/categories?post=89"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pjoocpa.com\/blog\/wp-json\/wp\/v2\/tags?post=89"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}