$24.95 
Learn more
Submitted By: someone
Answered: February 6, 2018 8:59 pm
Answered: February 6, 2018 8:59 pm
I own rental property. Have the passive activity loss rules been changed by recent tax legislation?
The Tax Cuts and Jobs Act of 2017 did not make any direct changes to the passive activity loss rules. Those with rental real estate and income below a set amount may still be able to deduct up to $25,000 of rental losses annually.
advertisement
Featured Books
Tax Glossary
Tax attributes
When debts are cancelled in bankruptcy cases, the cancelled amount is excluded from gross income. Tax attributes are certain losses, credits, and property basis that must be reduced to the extent of the exclusion.
