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claudiaung
New Member

Is rental losses carryover subject to amt carryover? the amount of rental losses entered doesn't reflected in schedule e?

 
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Anita01
New Member

Is rental losses carryover subject to amt carryover? the amount of rental losses entered doesn't reflected in schedule e?

No, the loss in rental property is not added back for the calculation of AMT, although the loss may be different for AMT since the depreciation methods are different.

The allowable deductible loss is, however, limited by your other income for regular tax purposes.  You can deduct up to $25,000 in losses if your other income is less than $100,000.  Between $100,000  and $150,000 in other income, the allowable loss declines to zero.  All the disallowed loss then carries forward to the year when you sell the property.

In addition, you must say you are actively involved in the rental activity in order to deduct losses.

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Anita01
New Member

Is rental losses carryover subject to amt carryover? the amount of rental losses entered doesn't reflected in schedule e?

No, the loss in rental property is not added back for the calculation of AMT, although the loss may be different for AMT since the depreciation methods are different.

The allowable deductible loss is, however, limited by your other income for regular tax purposes.  You can deduct up to $25,000 in losses if your other income is less than $100,000.  Between $100,000  and $150,000 in other income, the allowable loss declines to zero.  All the disallowed loss then carries forward to the year when you sell the property.

In addition, you must say you are actively involved in the rental activity in order to deduct losses.

Anita01
New Member

Is rental losses carryover subject to amt carryover? the amount of rental losses entered doesn't reflected in schedule e?

This information is in addition to the answer you received to an earlier question about how to enter carryover losses.  I'm assuming you have already done that and the carryover losses will not be used until you sell the property.

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