SSDI and VA Disability are the sources.
What about passive Income from child support/alimony or rental property?
Thank you!
I just wanted to make sure that the actual form DOSEN’T have to be sent showing the amounts of income even though its tax free.

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I do not understand this question why it is answer B ,000. Please help.

Tom owns a rental apartment building property. This is the only rental property that Tom owns. He "actively participates" in this rental activity as he collects the rents and performs ordinary and necessary repairs. In 2009, Tom had a loss of ,000 on this renta l activity and had no reportable passive income. His adjusted gross income, without regard to this rental loss, is 60,000. How much of rental loss may Tom deduct on his 2008 return?

I thought you can deduct passive loss up to passive income. Since he has no passive income the answer is 0? Is the book wrong or something when it says the answer is ,000?
Hi Boston. Thank you so much. Just another question. If the taxpayer did not actively participate in rental real estate activity and cannot deduct any of the loss against nonpassive income, right? Dividends and interest are not considered passive income. If they actively participated in activity then they can deduct up to ,000 of loss from nonpassive income ?

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I am planning to rent my house because I will be moving to a new location for a job. I have already found a tenant through Craigslist, I have prepared a rental agreement myself. I have carried out the credit check and background check myself. There is no property manager involved. I have a handyman type of guy who will attend to any immediate repair issues in my absence. Can I offset the losses on my rental property against the income from my new job? That is, can I act as if the rental income is an active source of income?

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What is the easiest (and cheapest) way to set up a source of income that doesn’t involve working everyday? You know like starting a business, rental property investment etc. but with little or no initial investment
Not that I’m not willing to work, I just don’t want to be chained to the desk all the time, I want something that will give me more freedom, not less.

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After reading Rich Dad, Poor Dad and embarking on a few ventures including buying a rental property, designing a board game, and joining www.ytbinterest.com, I find myself looking for more opportunities. What other opportunities for passive income are out there ?

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