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There are two reasons why a rental loss might not show onto page 1 of your form 1040, reducing other income.
If you don't qualify for the special deduction, all losses will continue to carry forward to offset net income from the rental in future years. If the property is sold, then the losses are released in the year of sale.
There are two reasons why a rental loss might not show onto page 1 of your form 1040, reducing other income.
If you don't qualify for the special deduction, all losses will continue to carry forward to offset net income from the rental in future years. If the property is sold, then the losses are released in the year of sale.
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