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  1. #4
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Reporting a Loss from Rental House Activity on Schedule E, Line 21

    I was in the same position when I had rental properties and I filled out the Form 8582 when I had a net loss but not when I had a net gain.

    You'll see why on Page 3 of the Form 8582 instructions - Special Allowance for Rental Real Estate Activities.

    https://www.irs.gov/pub/irs-pdf/i8582.pdf

    So, yes, under that rule, you do actively participate and you really don't have to be concerned with anything until you have $25,000 in losses to deduct and/or your income reaches $100,000.

    Here's the form:

    https://www.irs.gov/pub/irs-pdf/f8582.pdf

    However, based on the Exception on Page 1, it looks like you don't have to fill out the form 8582.

    Leave it to the IRS to write something like this. LOL.

    "Rental real estate activities with
    active participation were your only
    passive activities."

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