October 20, 2020

The Mann Report published an article by Tax Director Joseph Mecagni, about taking large rental losses.

The Mann Report

By Joseph Mecagni, Director, Tax & Business Services

The Mann Report published an article by Tax Director Joseph Mecagni, about taking large rental losses. Tax & Business

Excerpt:

If the taxpayer can establish material participation, the rental activities will be non-passive and can be deducted against income such as W2, interest, dividends, capital gains, retirement distributions and Social Security. For audit protection, it is important that a detailed log and supporting documentation be maintained.

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Related Industry

Real Estate