Tax Court Allows Rental Loss Deduction to Architect Who Qualified as Real Estate Professional

Investors are limited in their ability to offset income with passive losses, and even real estate investors who “actively participate” in their rentals (through management, capital improvements, selection of tenants, negotiation of leases, etc.) have a maximum $25,000 offset. However, 26 U.S. Code § 469(c)(7) provides special rules for real...

Acquisition Indebtedness and Home Equity Indebtedness (Voss vs. Commissioner in the Ninth Circuit)

Other Posts in this Series Part I: The Personal Mortgage Interest Deduction Part II: Acquisition Indebtedness and Home Equity Indebtedness (Voss vs. Commissioner in the Tax Court) In Part II, we provided the backdrop to the Voss vs. Commissioner case, and the Tax Court's reasoning why the mortgage interest limitations...