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Combine rental biz with a non-rental (non-passive) biz for tax?
Say I'm a freelance consultant in a non-RE related industry where I bring in a lot of income but have very little tax deductions. Say I also have a rental property that is generating low income but it has a lot of tax deductions, way more deductions than the income. Is there any way for me to combine those two forms of income into one business so I can enjoy the real estate tax deductions across the freelance and the rental incomes? What would the best options be to do this?