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Rental Loss

My rental losses exceeded my rental income for 2020.  Can I deduct the remaining rental loss against my wages and other income?

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Rental Loss

There is a $25,000 special loss allowance which you can use to offset other income provided you or your spouse actively participated in the rental activity and are within the maximum income parameters.

 

See https://www.irs.gov/publications/p527#en_US_2019_publink1000219124

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Rental Loss

There is a $25,000 special loss allowance which you can use to offset other income provided you or your spouse actively participated in the rental activity and are within the maximum income parameters.

 

See https://www.irs.gov/publications/p527#en_US_2019_publink1000219124

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