415913

Re incident xxxxxxxxx-you stated PA does not allow taking a rental loss from schedule E

On reviewing my printed PA tax return-loss for rental is listed.

posted

Connect with an expert

1 Best answer

Accepted Solutions

Re incident xxxxxxxxx-you stated PA does not allow taking a rental loss from schedule E

The PA 40 may list the loss, but it is ignored for calculation of PA taxable income. In PA, you can't use a loss of one class of income (such as rental) to offset positives in another class of income (such as compensation)

View solution in original post

1 Reply

Re incident xxxxxxxxx-you stated PA does not allow taking a rental loss from schedule E

The PA 40 may list the loss, but it is ignored for calculation of PA taxable income. In PA, you can't use a loss of one class of income (such as rental) to offset positives in another class of income (such as compensation)

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post