Filing a 3115 for unclaimed depreciation for two rental properties; a large amount of money I thought I'd be getting back this year, but, apparently, I did not take into account loss limitation of $25,000. This means there is basically no change in my refund at all as I reached that amount with normal rental expenses and some cap improvements this year.
Is there any way to get some or all of this money back this year?
How do I carry forward this loss each year?
Or does it carry forward indefinitely until I sell the property and how does that calculation work?
Thank you in advance for looking at this!
