There are two kinds of passive activities: trade or business activities in which the taxpayer does not materially participate during the year; and rental activities, even if the taxpayer does not materially participate in them, unless the taxpayer is a…
In the last ten years, too many taxpayers have sold real estate at a loss. How does this type of loss ultimately affect the amount of taxes owed to the IRS? First, to accurately determine the amount of a loss…
