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Old 07-03-2025, 08:26 AM
Haggar Haggar is offline
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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
If you give charity look at making QCD's- Qualified Charitable Distributions directly from your IRA. This reduces the taxable portion of your RMD. In effective getting a tax deduction for charitable contributions.
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