News - John R. Dundon II, Enrolled Agent
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A 'Short Term Rental' usually involves Condos, B&B’s, Hotels, Etc.  These 'short term rentals' fall outside of the definition for tax purposes of rental real estate.  As such these investments are treated as a business and the owner must materially participate in order to recognize...

Not grouping related activities as one activity Treating equipment leasing as non-passive by placing the revenue from such on Schedule ‘C’ or Schedule K-1 line 3.  Rentals are passive even if the taxpayer materially participated Deduct rental real estate losses when AGI is more...

There are two distinct issues to evaluate when disposing of a passive  asset: Is the disposition considered to be a qualifying disposition under reg 1.469 making the losses deductible? Is the gain...

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