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I have zero tax liability for 2018 thanks to the $7,500 EV deduction and my $6,500 tax liability. Can I carryover net loss rental expenses to 2019?
Hello,
My rental income from my rental will get wiped out by expenses and depreciation, thus going into the negatives. Usually, I can reduce my personal income for a greater tax return.
However, with 0 liability, doubt i'd get anything out of it. So can I elect to carry the excess expenses to 2019 instead or will I be forced to use it to reduce my personal income, even though I'm tax-free?
Thanks,
-Joe
Topics:
‎June 6, 2019
12:06 PM