Want to create an interactive transcript for this episode?
Podcast: BiggerPockets Daily
Episode: Everything You Need To Know About Tracking Passive Losses Using Form 8582 by Brandon Hall
Description: Passive activity loss rules are complex. These rules prevent you from using tax losses from your rentals to offset your active income. A foundational understanding of the rules will save you thousands of tax dollars over your investing career. And knowing how to review your tax return to ensure these rules were successfully applied is an investor superpower.For instance, if you opened your tax returns, can you find the amount of suspended passive losses carried forward to next year? And can you easily determine if the losses from one rental offset the income from a...