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Ask Millionacres: How Do I Write Off Rental Losses?


[Updated: May 20, 2021 ] Feb 05, 2020 by Matt Frankel, CFP

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Q: In your recent article on rental property, you stated, "Taxpayers with MAGI above $150,000 cannot deduct rental losses, even as an active participant, unless they are real estate professionals." My question is, what if any strategy is there for a taxpayer in this situation to write off losses? For example, does forming a corporation such as S provide a route to using these losses? --John

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