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mandelynnm
New Member

I have a rental property that rented for less that fair market rental rate. Where do I enter this loss

 
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New Member

I have a rental property that rented for less that fair market rental rate. Where do I enter this loss

Not for profit rental are not allowed a loss.According to the IRS, if you are renting a property without the intent to make a profit you can deduct rental expenses up to the amount of your rental income. You could not deduct a loss in the current year and could not carry forward a loss to subsequent years.

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