I have rental property loss and no other income. Can I carry it forward to use it in future, as I can't deduct it against any income. I am active participant 25K loss/yr.

[tagteam]

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@Carl wrote:

....Finally, on top of all this, the post marked as "best answer" doesn't actually answer the question originally asked....

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The original question contained the following,, in relevant part:

"I am active participant 25K loss/yr..........I would like to carry forward the whole amount and not use any loss this year."

The answer is, "the unused part of the $25,000 special allowance cannot be carried forward". Unless, I misunderstood what @yog-g intended to ask, the statement answers the original question. 

[and note that the original question, as well as many of the responses, were posted on or around October11th, well over a month a half ago, and @yog-g has apparently not followed up]

[Anonymous]

You will then have negative income on your tax return. That is called a "Net Operating Loss" (NOL),  The $25,000 is not a passive loss

if in 2018, 2019 or 2020 under the CARES Act the NOL is carried back 5 years and then carried forward. 

however, you can elect with a timely filed 2020 return to carry forward any NOLS for those years Revenue Procedure 2020-24

[qofmiwok]

Okay, I think I understand.  If I qualify as active, then I have to take the $25k loss, but it is considered a non-passive loss.  It will take my taxable income down to zero, then everything below zero gets carried as an NOL.  Correct?  (I hate that I'm only getting a 10% tax deduction on the amounts going to zero when in other years it would be 25%.)