Category Archives: Taxable Income

Income Received For Serving as a Host Family

Posted on February 6, 2015 by Lisa W. Hull

Question:  Are stipends taxable income for Federal income tax purposes?  The taxpayer has been serving as a host family for a foreign exchange student and has received monthly payments during 2014.  Should this income be taxable to the host family? … Continue reading →

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Rental Real Estate Exceptions to the Passive Activity Loss Limitations

Posted on November 6, 2013 by Lisa W. Hull

In general, rental activities are considered to be passive activities, which means losses incurred in rental activities are not deductible against active or portfolio income.  There are two exceptions to this general rule. Real Estate Professionals Real estate professionals who … Continue reading →

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Passive Activity Loss Limitations

Posted on October 30, 2013 by Lisa W. Hull

In 1986 Congress passed the Tax Reform Act of 1986 which resulted in the recodification of the Internal Revenue Code.   IRC Section 469 became a part of our tax code as a result of the TRA 1986.  This provision requires … Continue reading →

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