@Carl wrote:
....once losses get your taxable income to zero, that's it. Any remaining losses just get carried over to the next year and you may be limited to a $3000 loss allowance each year after, until those losses are used up.
The sale of property held for rental use at a loss does not result in a capital loss (where there is a loss limitation).
Rather, the loss is treated as an ordinary loss which can be used to offset all other income and may even result in an NOL.
