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Investors & landlords
Thank you for your response. The issue I'm having is that the new rental expenses are all entered (including depreciation), and I have a loss. Turbo Tax is saying that $0 of the $8,000 loss is deductible. I received about $250k capital gains on the sale of my previous rental property (used to pay off my loan) and would like to reduce my tax burden. Is there any way I can use the $8,000 loss on my new rental property to reduce my taxes this year?
March 10, 2025
8:49 AM