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Tax Glossary
What Is “Foreclosure tax consequences”?
Foreclosure tax consequences refer to the potential tax bills you might face when a lender takes back your property due...
Tax Glossary
What Is “Opportunity zone”?
An Opportunity zone (often referred to as a Qualified Opportunity Zone or QOZ) is a specific, government-designated community where new...
Tax Glossary
What Is “Qualified opportunity fund”?
A Qualified opportunity fund (often called a QOF) is a special investment vehicle created to encourage financial investment in economically...
Tax Glossary
What Is “Net rental loss”?
A net rental loss occurs when the total deductible expenses for your rental property exceed the total rent you collected...
Tax Glossary
What Is “Net rental income”?
Net rental income is the total amount of money you collect from a rental property minus all of your allowable...
Tax Glossary
What Is “Self-rental rule”?
The self-rental rule is an IRS tax regulation that applies when you rent property you own to a business in...
Tax Glossary
What Is “Suspended passive loss”?
A suspended passive loss is a financial loss from a passive business activity—such as a rental property—that you cannot deduct...
Tax Glossary
What Is “At-risk rules”?
The at-risk rules are IRS tax guidelines that limit the amount of business or investment losses you can deduct on...
Tax Glossary
What Is “Real estate professional status”?
Real estate professional status (often called REPS) is a special tax classification created by the IRS for taxpayers who spend...
Tax Glossary
What Is “Active participation”?
Active participation is a special IRS tax classification for real estate investors who are involved in managing their rental properties....