- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Then that means your California suspended loss amount is larger than the federal amount. You need to keep track of it since none of it has ever been allowed. Everything else is as Tom describes.
Technically, if you had active participation in the Calif rental, then any special allowance allowed would generate a net operating loss each year that you could carry forward on Calif Form 3805V just like the suspended losses. So you would have two things to keep track of. I would skip that, especially since it seems you haven't been filing nonresident Calif returns like you were supposed to.
Technically, if you had active participation in the Calif rental, then any special allowance allowed would generate a net operating loss each year that you could carry forward on Calif Form 3805V just like the suspended losses. So you would have two things to keep track of. I would skip that, especially since it seems you haven't been filing nonresident Calif returns like you were supposed to.
May 31, 2019
7:11 PM