327: Real Estate and Taxes: What You Need to Know!
Wealth Formula by Buck Joffrey
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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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