- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Did you indicate in the program that you "actively participate" in the activity? If so, then depending on your AGI you can deduct up to $25K of your losses from "other" ordinary income, and the program will deal with that just fine. So it's perfectly possible with such a scenario that you don't have passive loss carry overs.
Do you rent to family at below FMRV? If so and you indicated so in the program, then carry over losses are just flat out not allowed. Once your deductable rental expenses get your taxable rental income to zero, that's it. You lose remaining losses permanently and forever and they can't be carried over.
‎November 25, 2020
6:57 AM