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February 21, 2025
Question

I have a loss of about $5000 on my rental property last year, but it is showing as net zero. How come?

  • February 21, 2025
  • 1 reply
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It is rented at FMV. It is a SFR in a high rise building. I used it for 0 personal days.

    1 reply

    KrisD15
    February 21, 2025

    Claiming a loss on Rental income can be limited on your total income. Additionally, the rules change based on whether you "materially participate".

    Do you manage the rental or does a management company or partner do all the work?

     

    The question about "Materially Participating" is asked in the rental profile section on the "You Indicated You Actively Participate" screen.

     

    Rental loss is phased out for Modified Adjusted Gross Income between 100,000  and 150,000.

     

    HERE is a link that explains further. 

     

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