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I recently consulted consulted with a CPA for tax prep and was talking about losses in my short-term rental put into service in 2022 last year the CPA brought to my attention that the losses I could use I I could use the losses to offset my W-2 assuming I qualify under the material participation thats a thats a pretty Cutting Edge CPA right there we are teaching short-term rental strategies and theyre very unique theres a loophole in that yeah so I want to commend you that youre youre on to something with the accountant then the accountant says but I you are capped by the money youve put into the rental which is he described as the at-risk rule and said the figure the cap is the total cost of upgrades and Renovations principal paid on mortgage prior to being put into service since it was my primary residence in 2018 to 22. down payment and closing costs I hate to say this too but the at-risk rule includes recourse debt which is really interesting that the accountant didnt refer
