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Real Estate
Reply to "Is renting a place out worth it considering the Depreciation Recapture Tax? "
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[quote=Anonymous][quote=Anonymous]Assuming you either have an AGI of over $150K OR you do not manage the rental property yourself, you cannot deduct rental losses from ordinary income, so what you need to do is - compare the income you bring every year after all the expenses and taxes from the rental with your capital gains rate *((price of your house + cost of improvements made)/27.5years) If you both have AGI of under $150K and manage your rental yourself, you can deduct losses from the rental (including depreciation) from your ordinary income, so you don't stand to lose anything. [/quote] Ok, I assume you do know what you're talking about Those losses (including depreciation) from renting - "passive loss" cannot be used to offset ordinary income, but it should be accumulated, right? Now, question is - can you offset income from sales of the rental property (capital gain?) by accumulated losses from rental activity?[/quote]
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