The 10 People Most Likely To Be Audited. Are You One Of Them?
- By
C. Cleveland
People Who Claim Rental Losses
If you rent property you can deduct up to $25,000 in losses against your income. But there are some loopholes to the rule. The allowance phases out if your income exceeds $100,000 or you are a real estate professional. The IRS will check to see you are eligible for this deduction if you claim it.
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