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Tax Questions and Answers

UserPost

11:07 am
March 13, 2011


Financial Samurai

Admin

posts 1803

Hi Folks,

As it's tax time right now, I thought it be good to introduce a place where we can share our questions and answers on taxes.

Anybody a landlord who makes over $150,000 and knows about passive losses, and whether that can be added to cost basis of your purchase price, so that your profit upon sale is LESS, therefore you pay less taxes?

Right now, the government doesn't allow individuals making over $150K to carry over passive losses to reduce their tax bill on positive income properties.  Wondering if there's help during the sale.

Thanks

Sam

Regards,

 

Sam

Financial Samurai - Helping you achieve financial freedom sooner, rather than later.

Yakezie Network Founder 


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