@burgerguy14 wrote:
I believe I am entitled to NOLs after reading IRS publication 536 on Net Operating Losses for Individuals.
Publication 536 does mention real estate losses but without any specificity.
Based upon a post you made in another thread, you do not provide "substantial services to your tenants", which would essentially permit filing on Schedule C which, in turn, could create an NOL.
Further, it does not appear as if you are a real estate dealer (e.g., your business is buying and selling real estate), which would, also, permit filing on Schedule C which, in turn, could create an NOL.
Beyond the aforementioned, you would have to qualify as a real estate professional who materially participates in your rental activities in order for the losses to be considered nonpassive.
See https://www.irs.gov/publications/p527#en_US_2022_publink1000234059
Note that whenever you read something on the order of "rental qualifies as a trade or business" around here, they could very well be referring to being treated as a trade or business for the purposes of the QBI deduction.
I am going to page @AmeliesUncle and @Mike9241 for further input.
