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lisa15
New Member

Should I enter my rental property expenses even if I'm unable to deduct them due to gross income guidelines?

I entered all my rental property info and was then informed that I zero is deductible due to my gross income.  Is there any benefit to entering them in this case?
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Accepted Solutions
LeeM
New Member

Should I enter my rental property expenses even if I'm unable to deduct them due to gross income guidelines?

Yes, there is. You will have a carry-over loss that could be used to offset gains in the future.

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1 Reply
LeeM
New Member

Should I enter my rental property expenses even if I'm unable to deduct them due to gross income guidelines?

Yes, there is. You will have a carry-over loss that could be used to offset gains in the future.

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