Can you clarify why you expect to see a loss, and no taxable gains for long term rentals?
Typically, when dealing with long term residential rental real estate, when you add up the rental expenses of mortgage interest, property taxes, insurance and the depreciation you're required to take, those four items alone will exceed the total rental income received for the tax year. Add to that the other allowed expenses such as repairs and maintenance costs, and it's almost a given your total deductible rental expenses will exceed your rental income, resulting in a loss.
Now this is not true for everyone. For example, if you have an AirB&B or VRBO rental in a location that's booked year round or close to it, then depending on the location, your pricing and other things, you may actually show a profit. Likewise if you have a commercial rental property that too may very well show a profit. But still, much of that so-called profit will be eaten up by the expenses.
