Passive Income

Rental real estate is one way of generating passive income. We all like the idea of making money without doing anything, and buying a rental property is one of the best ways to make that happen. Real estate investing is a popular choice for inventors who want to make investments that are a bit riskier than stocks, bonds, and CDs.

Owners can get monthly cash flow from rent by investing in rental real estate without extra work. Without getting into a debate about whether or not passive income exists, this is why the rental property is considered an investment that makes money on its own.

Tax Breaks

Because investing in rental real estate can be passive and active, an investor can get big tax breaks from both. For example, many people who own rental properties don’t live in them. This means that the costs of keeping the property up can be higher than the rents they bring in, especially in an economy where there may be vacancies. When the costs of renting out a property exceed the gross rental income, losses result from the investment activity. These losses can be used to offset profits from income from work.

However, there are rules and regulations about handling rental losses for tax purposes. These rules are called “at risk” and “passive activity loss” rules, limiting how losses from renting out property can be used in a given tax year.

Losses from a passive activity can only be used as a tax deduction for the money made. The extra losses can be used in the next year or years until they are used up. If and when you sell the underlying asset, the rental property, you can take all the remaining carry-forward loss balance in the year of sale.

Losses from rental real estate limited by passive loss rules are just put off and do not go to waste. It’s easy to forget about unused loss deductions, so you must be careful and keep track of them. There is, however, one exception to this rule. If you are actively involved in the rental activity, you can deduct up to $25,000 from what you earn from the rental activity. This deduction is reduced by one dollar for every dollar over $100,000 in adjusted gross income (Sunil, n.d.).



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