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JuniorAct7 t1_jcg0gly wrote on March 16, 2023 at 3:50 PM

Reply to comment by ChornWork2 in Nearly 1,500 buildings ban Airbnb and other short-term rentals by fluffykintail

This is correct. They can only deduct rental losses against other passive income. It will lower their taxable income, but almost certainly not enough to offset the lost revenue.