What is a passive activity loss and how do i claim one on my rental property

[kymadden2]

I started renting our home in 1/2015 and I'm not exactly sure what a passive activity loss is and how do I determine if I can deduct it.

[view2]

Renting out real estate property is generally considered a passive activity,

Please complete the rental section to file a Schedule E so that you will be able to claim all related expenses and depreciation , so if any passive loss , that can be carried forth  even  up to the time the property is sold.

If you expenses exceed your rental income, you have a loss.  If the rental income exceeds your expenses, you have a profit.

Where do I enter income and expenses from a rental property?

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