Essay
Jane, single, owns a single-family residence that she rents out to a long-term tenant. Her tax adviser's newsletter explains that some rental property owners can obtain a new deduction for their qualified business income starting in 2018. The article notes that if clients have questions, they can contact the firm. Because Jane's rental property generates a loss, she assumes that this new deduction is not relevant to her. Is Jane correct? Explain.
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No. The treatment of Jane's rental prope...View Answer
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