Name: Accounting Freedom, Ltd. - Greater Milwaukee Region
Address: 1567 Wisconsin Ave, Grafton, WI, 53024, US
Telephone: +12623752440

For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally deduct PALs only to the extent of passive income from other sources, if any. For example, if you have positive taxable income from other rental properties, that generally counts as passive … Continue reading “Are you a tax-favored real estate professional?”