REG: Mom and Pop Exception

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  • November 28, 2016 at 10:04 pm #1329297
    CPAmber11
    Participant

    I have a question regarding PALs and the Mom and Pop Exception. Is the phaseout limitation of 100K-150K the same for married filing jointly and single taxpayers?

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  • November 28, 2016 at 11:05 pm #1329351
    Anonymous
    Inactive

    Yes, the AGI is independent of filing status.

    The more important part is that they are active and own greater than 10% of the rental activity

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