Pennsylvania (PA) tax law specifically states the following:
- A loss in one category of income cannot offset the gain in another category of income.
- Example: Rental loss cannot offset wages, interest, dividends, self employment, or any other type of income. Likewise a business loss (Schedule C) cannot offset rental income, wages, interest, dividends or any other income class. Losses can be used to offset income only in the same class of income,
- Likewise, there are no carryover losses allowed on the PA return.
- @catance
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