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Investors & landlords
@Carl wrote:I have a residential rental that has a loss and now have commercial self rental that has a gain. I need to keep the residential losses from being able to offset the commercial self rental gain.
Not possible and not legal on a personal 1040 tax return. Period. So the bottom line is, your losses on one will offset the gains on the other.
@Carl A "gain" for a Self-Rental is NON-Passive. So that Nonpassive gain should NOT offset the Passive Loss from the other rental.
‎February 3, 2020
11:06 AM