Residential Rental Deductions Dear TaxGuru,
My husband and I own a small condo near the beach in New Jersey. The taxes and mortgage are high and it seems that we will be making a loss this year..
What can we write off for tax purposes? My CPA claims that due to our joint income being higher than 150k, we cannot write off our losses..
Please confirm if this is true and explain.
Tks
Kathy |