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Old 07-03-2025, 05:12 AM
BrianL99 BrianL99 is online now
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Originally Posted by djmdawson View Post
Need info on new BBB in congress from Trump. Wife and I are in the 70's. This is the first year of both getting RMD's and this will push income up big time.

Is there any benefit of owning a 2nd rental home from a tax perspective and what are the tax limits for eliminating the potential savings. IE, what is the income limit when you do not get to deduct losses?

I plan on using Turbo Tax or a tax guy but want the experience from someone who has a 2nd rental home.

DJ
No one seems interested in answering your question?

If I'm not mistaken, if your MAGI is $150,000 or more, you can not deduct any Passive Activity Loss. The "phase out" begins at $100,000. Check with your accountant.
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