In common, the passive exercise rules limit your capacity to offset other types of revenue with internet passive losses. John, who lives in North Carolina and loves to ski, owns a rental rental in Park City, Utah, which he visits every January to get the place ready for that season’s tenants. His travel bills are deductible if, for instance, the first objective of his trip is to wash and paint the unit. Let’s say that during a five-day go to to the condo, John spends three days cleaning and painting and two days skiing. If you own investment or rental…