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Using LLC to offset Rental income against Active income (W2/Capital gains)
From my research, I understood that my rental property paper losses could offset my W2 income/capital gains if: (1) my AGI is under $150k, (2) the property is a short-term rental, or (3) I have a Real Estate Professional designation. I've recently learned that these conditions might not apply if the properties are held in an LLC, and there might be no limit on the amount of rental income paper losses used to offset W2 income/capital gains. Is this accurate?