NOL Net Operating Loss for Rental Properties
I own 2 rental properties which generated losses in years 1,2 and 4 of existence.
Year 1 was 2017 which I filed an incorrect tax return on. I am getting reading to submit a corrected return for 2017.
I have not filed taxes from 2018 thru 2022 because I knew I would not have any taxable income. I am preparing 2018 – 2022 returns now.
I believe I am entitled to NOLs after reading IRS publication 536 on Net Operating Losses for Individuals.
Can I carry any of the NOL’s back to 2016 (I was a w-2 employee back then)? Or should I just carry the NOLs forward at this point?
