Discussion:Passive Losses - Self-Rental

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Revision as of 21:24, 23 May 2009

Discussion Forum Index --> Advanced Tax Questions --> Passive Losses - Self-Rental
Discussion Forum Index --> Tax Questions --> Passive Losses - Self-Rental

Ss-cpa (talk|edits) said:

23 May 2009
I have a client that is involved in several passive activities. One of which is a rental of a commercial building to a 100% owned active business. He owns 100% of the LLC that owns the commercial building and 100% of the active business that occupies/rents the building. As I understand, due to the common ownership, he cannot offset any net income from this rental to offset any other passive losses. My question is this: Can he use the income from this rental to offset passive losses from this same activity in years past?
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