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Investors & landlords
You can apply the carry over loss from 2018 to your rental income in 2019 of $9,000, so your income for the current year is -0-.
If your adjusted gross income is less than $100,000, you can take an additional deduction of $25,000 from the carryover loss from 2018. If your adjusted gross income is over $150,000, you cannot deduct any additional loss in the current period. If you income is between $100,000 and $150,000, you can take a loss of an amount less that $25,000, based on what your income is.
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March 8, 2020
12:30 PM