Can you clarify what you mean by a 'loss on purchasing rental property?'
Do you mean you had a loss when selling your rental property?
Click this link for info on How to Report Sale of Rental Property.
You may own rental real estate that you need to sell at a loss. To help ease the pain, losses from selling rental properties generally receive favorable tax treatment.
Here's a detailed article on Selling Rental Property at a Loss.
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