Thank you for your reply and confirmation! Here are my follow-up questions:
- When I have no other positive rental income to offset, do I need to keep the suspended passive loss $X record/carryover in each year's tax return? If I do, where in the tax forms? since property A is not a rental anymore, I don't think I can include it in Schedule E, right?
- If I don't need to keep the suspended passive loss $X in each year's tax return, several years later (say 2030) when I have positive rental income to offset, do I just add $X carry over loss in the Schedule E only in that year 2030?
Thanks!
