- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can rental loss be used as passive carryover?
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?
Topics:
posted
June 3, 2019
11:46 AM
last updated
June 03, 2019
11:46 AM
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can rental loss be used as passive carryover?
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.
June 3, 2019
11:46 AM
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can rental loss be used as passive carryover?
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.
June 3, 2019
11:46 AM
Still have questions?
Make a post