No Rent Erosion

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  • Snaggletooth
    Senior Member
    • Jun 2005
    • 3354
    #1

    No Rent Erosion

    Rental Property loss after depreciation, $3500. Gross Income over $150,000. I thought Rental Losses would phase out when income is between $75K and $150K.

    Yet Drake is allowing the loss. Has the law changed? Have I missed something?
    Tags: None
    • TaxGuyBill
      Senior Member
      • Oct 2013
      • 2360
      #2
      Gross income? Or MAGI?

      Is it showing up in part 1 of Form 8582? What is on line 6 of Form 8582?​


      https://www.irs.gov/publications/p92...link1000104575

        Comment

        • Snaggletooth
          Senior Member
          • Jun 2005
          • 3354
          #3
          TaxGuyBill -

          You really hit the nail on the head. The "modified" adjusted gross income was significantly less than $150,000, so that freed up the loss.

          Thanks

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