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No changes to passive loss rules in the new tax bill ?
If I'm reading the various threads correctly, in the CARES act, landlords who have other primary work like a full time day job, and they are limited to treating real estate as passive income/loss aren't getting any benefit against earned income, because the language in the new bill looks like it only applies to "net operating losses"?
Is that right?
If so, it seems like the only benefit is the change in depreciation bonus rules from 50% to 100% - if PALs haven't changed.
Now, I need to go figure out where I would see about bonus depreciation in my last 2 tax forms, and see if I need to amend them.