Thank you Monika. Very by helpful. It would be helpful if I could see the TurboTax data on the IRS forms in question. I’m having a hard time understanding how the loss is used to increase my refund. This property is a rental unit in a condo complex and we are passive investors, as our condo association has a rental office.
For next year’s taxes, will my NOL be used again for the itemized deductions until it is reduced to zero?
Thanks very much.
