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A question about Vacation Home Rental Loss Limitation
I saw this from the forum
You are not allowed to take losses on a rental property that has a mixture of personal and business use.
if you use it for personal purposes more than the greater of:
14 days, or
10% of the total days it is rented to others at a fair rental price.
My questions is
Will the losses be carried over to the next year in this scenario?
If so, how TurboTax handle it?
If not, where will the losses go? Are they just ignored or will they be counted when selling the house?
Thanks!
Topics:
‎September 29, 2023
8:42 AM