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Financial Planning / Tax Strategies
|Subject: Re: Passive versus Active Income||Date: 6/19/2012 1:17 AM|
|Author: ptheland||Number: 116289 of 121217|
This is one of those rare occasions when I get to disagree with Peter. Well, there is the way he dresses, but I mean about taxes.
You say that as if you shredded every tie you owned the day you retired. ;-)
While rental real estate by a non-real estate professional is, by definition, passive,
That's the part of the definition I was working with.
you can still use passive losses against non-passive income up to a certain AGI level if you actively participate. That's why the software was asking and why it does matter.
And that's the rest of the definition.
It's not that I was actually wrong. (I'm often mistaken, but never wrong!) I was just incomplete. ;-)
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