Aha. The picture is becoming clearer now. I really appreciate all of the input! Sounds like the only time you can use a rental loss against wages is if you are single. I'm married and file MFS.
So to sum it up, I'm married and have job that earns $60k-$70k on which I pay a good deal of income tax on. Having a rental property will never have any effect on the taxes I pay on the ordinary earned income... Absolutely correct?
