irs tax audits Archives

Why the IRS may audit you for real estate losses

Deducting rental losses on Pennsylvania real estate properties can be an attractive option for people who own real estate since there is no limit to how much that can be deducted. However, Time.com warns that unlimited deductions is precisely why the IRS carefully scrutinizes returns with real estate losses deducted. The IRS places strict rules on who may claim real estate losses, and any return that looks suspicious can be flagged for a tax audit.

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