Many individuals do not understand passive activities & passive losses and the Internal Revenue Code Sections and Treasury Regulations that provide the tax law surrounding passive activities.  Further, you may not be aware that losses from passive activities may be disallowed or “suspended” so to speak.  John McGuire, is a tax attorney at The McGuire...Read More

What is a passive activity loss?  This can be a common question when individuals invest as a passive investor or perhaps for individuals that own and rent real estate.  Your passive activity loss is would generally be to the extent your passive activity deduction exceed passive activity gross income.  Moreover, this passive activity loss will...Read More