2-Year Extension of the Limitation on Excess Business Loss

[Ricardo Garcia]

Hi All,

Please, I need your help understanding the new IRS law starting January 2023, which will only allow you to claim losses on your business for three out of five tax years. If you don't show that your business is starting to make a profit, then the IRS can prohibit you from claiming your business losses on your taxes.

What would be the impact on us Real State Investors? What do you think?

Please, let's talk about it and share your understanding. I appreciate your help and all the information you can share.

Thank you,

Ricardo