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Financial Planning / Tax Strategies


Subject:  Rents and Royalties -Loss limited by AGI? Date:  3/24/2013  6:32 PM
Author:  monica3674 Number:  118138 of 127513

I'm working on my dad's taxes. He typically has about a $500 loss on some farmland he owns in Northern Michigan. This year, he converted an IRA to a Roth and his income is a lot higher than usual - about $250k. The loss isn't showing up in the tax software as a credit (it's showing 0). Is it because his income is too high? I can't find any input errors.

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