Supreme Court throws out Biden administration eviction moratorium

[FindersKeepers]

All your niece had to do was apply. Calif businesses got plenty to keep them going but a lot quit and closed anyway. We will never be rid of gamers, but now a lot blameless people are being evicted.

Landlords are more blamelass than renters.

[jet57]

She did apply. Kansas did not disperse the money to self-employed as directed to do by the CARES Act.

I'm sure other states did the same.

Yeah; "did not disperse"... some 56% of the money was never dispersed, that's what the problem was.

[FindersKeepers]

Yeah; "did not disperse"... some 56% of the money was never dispersed, that's what the problem was.

Which left a lot of people--like my niece--in very bad shape through no fault of her own.

Meanwhile, stores like Costco, Lowes, and Menards were "essential" so people shopped there in mass--looking a whole lot like packed sardines, despite the stickers on the floor that said to "social distance."

[Hoosier8]

So Biden didn’t order it like you said he did.

The CDC is part of the Administration and guess who is in charge of that? The CDC has no constitutional ability to create law and SCOTUS reaffirmed that. The CDC would not have done this without Biden's approval and he went on TV and basically said he knew it might be shot down in court.

This represents a taking by the government without compensation which is highly unconstitutional.

[MMC]

The CDC is part of the Administration and guess who is in charge of that? The CDC has no constitutional ability to create law and SCOTUS reaffirmed that. The CDC would not have done this without Biden's approval and he went on TV and basically said he knew it might be shot down in court.

This represents a taking by the government without compensation which is highly unconstitutional.

Correct Biden gave the CDC the approval to go ahead and do what they dont have any Constitutional authority to do. Its clear Jet has no idea as to how things work with the Fed and whatever administration is in power.

[jet57]

Which left a lot of people--like my niece--in very bad shape through no fault of her own.

Meanwhile, stores like Costco, Lowes, and Menards were "essential" so people shopped there in mass--looking a whole lot like packed sardines, despite the stickers on the floor that said to "social distance."

Amazon is “essential” too; what a rip. I agree with you, I think your niece got screwed.

[Dr. Who]

No.

As passive income, rental loss can only be deducted from rental income. It can't be deducted from any other income, such as money from a job or other investments. Captdon will show a lower income, to be sure, but his pocketbook will be the only thing that takes a hit.

We have rental properties and, fortunately, our renters are stand-up folks. No deadbeats like those renting from Captdon.

I've heard comments from others, though, who wish their rental house would "just burn." That way, the deadbeat would have to move, the landlord would recover the cost (or a percentage) of the value of the house, and could then pay off the debt against the house.

What the CDC did is criminal. Hundreds of thousands of mom-and-pop landlords are in dire financial straits. Now that the eviction ban has ended, they may be able to get the deadbeats out, but they will never recover the lost income. All that talk about paying landlords for their losses never happened. You have landlords out there on the verge of losing not only their rental properties, but their primary residences as well, due to their inability to pay the mortgages on rental properties.

Meanwhile, the deadbeat renters may finally be kicked out, but they'll walk away unscathed, no loss to them.

Thank you. Not being involved in property rentals, I had no idea. Your response prompted me to investigate passive income and I came across this NOLO article that provides some details on how passive income is treated by the IRS.



"Exceptions to Passive Loss Rules


There are only two exceptions to the passive loss ("PAL") rules:


you or your spouse qualify as a real estate professional, or

your income is small enough that you can use the $25,000 annual rental loss allowance.

Property owners with modified adjusted gross incomes of $100,000 or less may deduct up to $25,000 in rental real estate losses per year if they "actively participate" in the rental activity. You actively participate if you are involved in meaningful management decisions regarding the rental property and have more than a 10% ownership interest in the property. This allowance is phased out for taxpayers whose MAGI exceeds $100,000 and eliminated entirely when it exceeds $150,000. Thus, it is useless for high-income landlords.The other exception to the PAL rules is the one for real estate professionals. Unlike the $25,000 exception described above, this is a complete exemption from the rules--that is, landlords who qualify as real estate professionals may deduct any amount of losses from their other non-passive income."

This article indicates that rental losses can be carried forward into future tax years and written off against that future income.

This audit test from the IRS is very detailed: Passive Activity Loss Audit Technique Guide (irs.gov)

[Chris]

Interestingly, AOC targets the right group, Congress.

A day after the high court's Thursday ruling, Reps. Alexandria Ocasio-Cortez, Ayanna Pressley, Cori Bush, and Jimmy Gomez led over 60 Democratic colleagues in calling on House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer to work with them in extending the eviction ban. Their letter urged Congress to pass legislation on a new moratorium, saying the Delta variant "continues to claim thousands of lives" and now is not the time to leave renters vulnerable.

https://www.businessinsider.com/aoc-...e-court-2021-8