Self Rental Trap

Posted by Andy
Those individuals and businesses that rent a space to themselves or a related party (their Corporation) need to take heed of this caveat to the tax code. This will impact how the income/losses from any rentals will be treated (whether passive or not and allowed to net against other passive income/losses) More info

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The content on this blog (www.acollinscpa.blogspot.com) is my personal opinion based on my study and understanding of tax laws, policies and regulations. It’s provided for your private, noncommercial, educational and informational purposes only. It’s not a recommendation or endorsement of any company or product. It should not be relied upon as specific tax advice for your personal situation. I strongly suggest that when it comes to filing your taxes, you get additional, professional guidance from individuals who are familiar with your specific circumstances. Those who choose to rely solely upon the information on this site do so at their own risk and peril, and cannot hold the author liable in any form or fashion.

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