You seem to have hit the nail on the head with this one. You are correct in that we are close to that cap of $150k whereby the passive loss would be minimal to the point of being just a few thousand dollars. I didn't think of it as being 'phased out' as such but would completely explain what I am experiencing -- some not all of the loss credit.
I'm guessing at this stage that I will simply need to carryover any future losses on top of this years remainder having everything add up until we sell the place and take the credit then.
Thank you for this insight. This was fantastic!
