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Rental real estate: those don’t also serve who only stand and wait
The tax law “passive loss” rules limit “passive loss” deductions to the amount of “passive” income earned in a tax year, except when a “passive activity” is disposed of in a taxable sale. A special...
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Perhaps he should have phrased that another way
If you build and sell one house, one time, any gains are probably capital gains. If you build a bunch and cross the line to being a “developer,” you start generating ordinary income. The distinction...
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