Amanda owns several rental houses and performs all management functions. Amanda uses a handyman to perform maintenance and repairs. Her AGI for the year is $120,000. The rental house activity has a loss of $25,000 for the year. Amanda has no passive income and is not a real estate professional. How much of the rental house loss can Amanda deduct for the tax year?

a. Nothing

b. $25,000

c. $10,000

d. $15,000

Answer rating: 100% (QA)

Deduction It means that the taxable income of the taxpayer ... View the full answer