@nono4taxes wrote:
I thought the unclaimed expenses were to be carried over to next year, but I never saw a carryover amount or worksheet....
Expenses that exceed income on "vacation rental property" (i.e., where property is used for personal purposes more than the greater of 14 days or 10% of the number of days the property is rented at fair rental) are not carried over to the following tax year.
Any loss due to expenses that are allocated to rental use for this type of property (and which exceed income) is considered nonpassive and deducted from all other income; there is no carryover.
See Sections 469 and 280A.
