click here: Leave a text, tell us what you likedn this episode, we dive into the rules and strategies for deducting losses on rental real estate properties. Whether you're a seasoned investor or just getting started, understanding how to handle rental property losses can help you optimize your tax situation and maximize your returns.What You'll Learn in This Episode:✅ How rental property losses work for tax purposes✅ The difference between passive and active rental income✅ IRS rules on passive activity loss limitations✅ When you can fully deduct rental losses✅ How the real estate professional status can impact deductions✅ The impact of depreciation and other deductible expenses✅ Strategies to reduce taxable rental incomeKey Takeaways:🔹 Passive Activity Loss Rules: Most rental losses are considered passive, meaning they may be limited unless you qualify for special exemptions.🔹 $25,000 Deduction for Active Participants: If you actively manage your rental and have a modified adjusted gross income (MAGI) of $100,000 or less, you may deduct up to $25,000 in rental losses.🔹 Real Estate Professional Status: If you spend more than 750 hours in real estate activities and meet the IRS requirements, rental losses can be fully deductible against other income.🔹 Depreciation Benefits: Understanding depreciation can help you maximize deductions while reducing taxable income.🔹 Carrying Forward Losses: If your rental losses exceed IRS limits, they can often be carried forward to future years.Actionable Steps:1️⃣ Track your expenses: Keep detailed records of mortgage interest, property taxes, repairs, maintenance, and other deductible expenses.2️⃣ Assess your eligibility for real estate professional status: If real estate is a significant part of your business, this could unlock major tax benefits.3️⃣ Use depreciation to your advantage: Work with a tax professional to ensure you're claiming the right amount of depreciation.4️⃣ Plan for future deductions: If you're unable to deduct all losses this year, know how to carry them forward for future tax benefits.5️⃣ Consult a tax advisor: Rental real estate tax laws can be complex, and professional guidance can help you navigate the best strategies.Resources Mentioned in This Episode:📌 IRS Publication 925 – Passive Activity and At-Risk Rules📌 IRS Publication 527 – Residential Rental Property📌 Tax deduction calculator for rental property owners📌 [Your Website or Resource Link]Have a Question?Got questions about rental property deductions? Send us your questions, and we may answer them in a future episode!👉 Subscribe & Review: If you found this episode helpful, please subscribeEnjoyed this episode? 🎙️ Don’t forget to subscribe to the RetireCoast Podcast for more conversations on retirement planning, small business growth, and life on the Mississippi Gulf Coast. 👉 Visit RetireCoast.com for in-depth articles, resources, and guides on topics we cover here. 💬 Have a question or want us to cover a topic? Email us at [email protected] or join the conversation in our Facebook group Business After Retirement: Start, Manage, Succeed. Disclaimer: This podcast is for informational purposes only. It should not be taken as financial, tax, or legal advice. Please consult a professional before making financial decisions. Keywords: Big Beautiful Bill 2025, Social Security changes, retirement taxes, small business incentives, retirement planning, Medicare and seniors, financial security in retirement, small business growth strategies.

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