If I've shown a profit, will it trigger scrutiny if I now show less profit or a loss?
2025 Top Tax Secrets and Strategies for RE Investors
If I've been showing a good profit on rental properties for the last few years, will it trigger additional scrutiny if I now, for this filing, show less profit or a loss than has been usual?
Question ID: 6604963 Status:
Open Mar 27, 2025 - 12:50 AM
1answer
Answer
May 02, 2024 - 12:57 AM
No, not necessarily. I mean, I don't know what the – how much is the election? If you're going to – if you were showing $20,000 of profit and now you're showing $150,000 of loss, how is that loss being reported? Okay, the $150,000 should be depreciated. How did you get to that number? Like, I need more info.
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