Good Morning I have a tax question for rentals and a W2 job

[Santiago Valdez]

My name is Santiago V. My wife is Irene V. Good morning we are investing in the El Paso, Las Cruces and Alamogordo area. We are buying and holding mainly right now getting ready for retiring from our W2 jobs. With both incomes it takes up over the 150k income cutoff for writing off losses or better yet acquisition costs of a new rental Ex: purchase , closing , materials, labor costs and holding costs . We are having to pay taxes at the end of the year because we are not able to write off the cost of the acquisitions . Does anyone have any recommendations or suggestions on this topic ? Thank you for your time and attention God Bless

[Sheena Drake]

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