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Investors & landlords
manually keep a record of previous years passive loss?
Yes
If you have no other passive income, the suspended losses remain suspended. Carry them forward until you sell the home in a fully taxable transaction.
Or to rental.
A former passive activity is any activity that was a passive activity in a prior tax year but is not a passive activity in the current tax year. A prior year unallowed loss from a former passive activity is allowed to the extent of current year income from the activity.
May 31, 2019
9:53 PM