ilmscore | Prediction Details
"if I made a million dollars a year hypothetically and then I have this loss I'm not going to qualify to take this passive loss against my active income but what I could do is I could say I am a real estate professional or my spouse is a real estate professional and because one of us are real estate professionals now we can take this passive loss and deduct it against my active income"
By Minority Mindset | November 6, 2024 | Pending
From video
IRS Releases New Tax Brackets For 2025 - What This Means For You 00:11:28 - 00:11:52
Interpreted Prediction
Individuals qualifying as real estate professionals (or whose spouse does) can deduct passive losses against active income, even if their overall income is high.

Prediction Details

Topic
Real Estate Professional Passive Loss Deduction

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