Since turning into rental property in 2013, I have been accumulating losses every year. For 2016, I estimate I will start making profit for that rental property. May I ask how many years of passive losses I can carry over to reduce my effective gain in 2016 on beyond?
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As long as it takes. Either until you have passive gains that are offset by the passive losses, or you dispose of the property.
As long as it takes. Either until you have passive gains that are offset by the passive losses, or you dispose of the property.
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