Investors & landlords

NJ is special apparently. The losses cannot be written off except against the same income type, and disposition of assets is not rental income. However, because of this (https://caselaw.findlaw.com/nj-supe[product key removed]late-division/1211705.html) case law (which is based on another one called Koch), you are allowed to write off your previously unused depreciation (but only the the depreciation and not other losses like maintenance/taxes etc.).

 

You have to do this "manually" by editing a form so there's no way to do it in TT online. You have to use the Desktop version of the software. You can then edit NJ-DOP form to add this in, and adjust the remaining carryover of the other losses.