Talk of The Villages Florida - View Single Post - Big Tax Bill
Thread: Big Tax Bill
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Old 07-03-2025, 05:33 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by BrianL99 View Post
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.
LOL. It sounds like the OP wants to buy a rental property to lose money, and then deduct the losses to reduce taxes.
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