Current tax code for single and married is $150,000 income. Did they raise the amount cap you can make for married couple to write off a loss for our rental property for 2018? We make more and we’re told we can’t deduct anything for the rental home. The married income amount should reflect two incomes.

  • $150k for married, $75k for single. Are you asking for current filing purposes (tax year 2017) or planning for 2018 filing? Also, the phase-out uses modified adjusted gross income (MAGI) not income. – Hart CO Feb 28 '18 at 19:27
  • @HartCO It's $150k whether married filing jointly or single (for some reason). – Craig W Feb 28 '18 at 20:13
  • @CraigW Ah, it's MFS that's $75k, my whoops. – Hart CO Feb 28 '18 at 20:13

No, the $100K - $150K phaseout hasn’t changed. Keep in mind, the losses get carried over, and will benefit you when the property is running at a profit.

  • 1
    Worth noting that carried over losses also benefit you when you sell. – Craig W Mar 1 '18 at 12:07

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