Second home tax trap
Posted by Mark Washburn on Saturday, May 20, 2006 at 1:34 PM
By Mark Washburn / May 20, 2006
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Passive losses not sure thingSanibel rental property owners Ed and Susan Hanna have learned a costly lesson about taking passive losses for rental property. In a nutshell, the IRS disallowed their taking passive losses and ruled that Susan Hanna could not work as a full-time database consultant and also qualify as a full-time real estate consultant.
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