2017 was the 1st year owning my rental property. A deductible real estate loss was reported on Schedule E fo -$2,500.
Is this a passive loss I can carryover to this year?
You'll need to sign in or create an account to connect with an expert.
No, if you are allowed to take your loss, you must take it in the year it occurs. If your income is over $150,000, you are not allowed to take the loss and it carries forward on Form 8582 until you dispose of the property.
No, if you are allowed to take your loss, you must take it in the year it occurs. If your income is over $150,000, you are not allowed to take the loss and it carries forward on Form 8582 until you dispose of the property.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
sd847
New Member
qhgnlm
Returning Member
RustyShackleford
Level 3
rcgilleland1
New Member
CondoRentalOwner
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.