Rental passive activity loss

Forum|Forum|4 years ago
March 2, 2022
4 replies
48 views

My rental usually generates a small loss each year, which is subtracted from my other income. This year, I've evidently made too much wage income (>$150K) to be able to use that up-to-$25,000 loss against my other income. My question: Now, what happens to my rental loss? Thank you.

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Anonymous_

Level 15

@garycarols wrote:

Now, what happens to my rental loss?

The (passive) loss will be suspended and carried over to the 2022 tax year.

garycarolsAuthor

Level 4

--what if my income continues to be >$150,000? For how many years will the loss carry over? Thanks.

Anonymous_

Level 15

Suspended passive losses are carried over from year to year until they can be used (against passive income or when the property that generated the passive income is sold).

The suspended losses, however, do not expire.