I receive rent from 3 different pasture lands. Two have positive income. The third has a loss. In two years the property with the loss will start to report a profit. I do not actively manage the three properties. I will report the rentals on Schedule E type of Property 5 - Land. Even though all three properties are passive. Is my understanding correct that I cannot offset the profit from the two properties against the loss of the third? I would carry forward the loss and whittle it down by future profits on the third property on form 8582?
