Sentences with phrase «rental real estate activity»

You can claim a special loss allowance for rental real estate activities that fall outside the general rule.

An important part of how the property is classified is how the property is treated under rental real estate activities.

The GAO reported more than half of taxpayers with rental real estate activity in 2001 misreported their income / losses of $ 12.4 billion.

The GAO reported more than half of taxpayers with rental real estate activity -LSB-...]

In many circumstances, an individual rental activity will not require 500 hours of participation, nor will the taxpayer have sufficient time available to spend 500 hours on each individual rental real estate activity.

An LLC is a right choice for Rental Real Estate activities, but not for Rehabbing or a flipping operation such as yours.

Here, in the US, we have a stripped down version of negative gearing for rental properties - its called «rental real estate activity passive losses», and investors can deduct losses against current income, but up to a certain limit, with phase - out at high income levels.

You actively participated in a rental real estate activity if you (and your spouse) owned at least 10 % of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a significant and bona fide sense.

Real estate professionals are allowed to deduct, from their income, all their rental real estate activity losses without any restrictions.

[11] These changes will increase the amount of information taxpayers are required to report on their tax return related to their rental real estate activities.