327: Real Estate and Taxes: What You Need to Know!
Wealth Formula by Buck Joffrey
What Happens to Passive Losses That Are Suspended?
Am, in his investor group, people invest in tons of real estate. They may have like, a half million million os of losses that they're not able to use against ordinary income. Qualifying as a realistate professional will not unlock those losses. The only way you can tap into those prior suspended losses is to generate current year passive income or sell a passive activity at a gain which would then offset them.
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