15 Minutes of Finance

The Tax Plan: Rental real estate taxation and how to legitimize your rental as a business activity

Brandon West, CPA

The Tax Plan walks you through various tax planning strategies to help you keep more of your hard earned money. Today, we discuss rental real estate. Learn some key concepts to understand if you rent out your personal residence during the year. And, learn the IRS rules for treating rental properties as business activities, qualifying you for the QBI deduction, more write offs, and active loss recognition!