Discussion:Unwanted special allowance for rentals?
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| {{ForumNewPost|UserID=Paradox|Date=15 October 2009|Text=I have a client(Married filing joint)<$25000 AGI that would have no benefit from the use of the $25,000 special allowance for rental real estate activities and would simply like to suspend the loss and carry it forward into a more lucrative year against ordinary income etc. Can the RE loss on schedule E line 23 just be eliminated, and put zero on 1040? or does he have to file separately as crazy as it sounds (this disallows allowance if living together), or use PAL Form 8582 and call it passive without active participation? (might change use against ordinary income)? }} | {{ForumNewPost|UserID=Paradox|Date=15 October 2009|Text=I have a client(Married filing joint)<$25000 AGI that would have no benefit from the use of the $25,000 special allowance for rental real estate activities and would simply like to suspend the loss and carry it forward into a more lucrative year against ordinary income etc. Can the RE loss on schedule E line 23 just be eliminated, and put zero on 1040? or does he have to file separately as crazy as it sounds (this disallows allowance if living together), or use PAL Form 8582 and call it passive without active participation? (might change use against ordinary income)? }} | ||
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| + | {{ForumReplyPost|UserID=Solomon|Date=15 October 2009|Text=If there is active participation, then don't say there isn't.}} | ||
Revision as of 03:05, 15 October 2009
Discussion Forum Index --> Advanced Tax Questions --> Unwanted special allowance for rentals?
Discussion Forum Index --> Tax Questions --> Unwanted special allowance for rentals?
| 15 October 2009 | |
| I have a client(Married filing joint)<$25000 AGI that would have no benefit from the use of the $25,000 special allowance for rental real estate activities and would simply like to suspend the loss and carry it forward into a more lucrative year against ordinary income etc. Can the RE loss on schedule E line 23 just be eliminated, and put zero on 1040? or does he have to file separately as crazy as it sounds (this disallows allowance if living together), or use PAL Form 8582 and call it passive without active participation? (might change use against ordinary income)? | |
| 15 October 2009 | |
| If there is active participation, then don't say there isn't. | |
