rental income- passive vs active

A question on rental income/expense:

My accountant (indivudal income) put my rental (only 1 house) for last year as something called "passive" on my TAX return. So the NET cost did not deduct my total income. And she said only they will recommend for "active " if we have real estate license.

Is this how you file your return? The rental home is not under businese name.

 

Thanks.

 

所有跟帖: 

yes. She is right. -jjj7- 给 jjj7 发送悄悄话 jjj7 的博客首页 (0 bytes) () 10/29/2012 postreply 10:14:15

Correct -qqqq2222- 给 qqqq2222 发送悄悄话 (0 bytes) () 10/29/2012 postreply 10:34:55

she is right, but reality is not that strict. -漫漫人生路- 给 漫漫人生路 发送悄悄话 (0 bytes) () 10/29/2012 postreply 11:01:42

In reality,how to offset other income when it's not that strict? -HappyWed- 给 HappyWed 发送悄悄话 (0 bytes) () 10/29/2012 postreply 11:04:52

SEE LINKS ABOVE。。。 -tianfangye- 给 tianfangye 发送悄悄话 tianfangye 的博客首页 (106 bytes) () 10/29/2012 postreply 11:38:52

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