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Get your taxes done using TurboTax
@thecraigs4 wrote:
Even though this is nonpassive income, can't I carryforward the loss that is disallowed this year?
You cannot carryforward a loss in this instance unless the total of the expenses directly allocable to the rental exceeds the total rental income and that loss creates an NOL that you could carry forward (which would be extremely unlikely).
‎February 27, 2022
4:23 PM