I have zero tax liability for 2018 thanks to the $7,500 EV deduction and my $6,500 tax liability. Can I carryover net loss rental expenses to 2019?

Forum|Forum|7 years ago
June 6, 2019
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Hello,

My rental income from my rental will get wiped out by expenses and depreciation, thus going into the negatives. Usually, I can reduce my personal income for a greater tax return.

However, with 0 liability, doubt i'd get anything out of it. So can I elect to carry the excess expenses to 2019 instead or will I be forced to use it to reduce my personal income, even though I'm tax-free?

Thanks,

-Joe

TurboTax Home & Biz Windows

Best answer by

Unfortunately, no. You can't carry it forward. The only situation that would allow you to carry forward rental losses would be if your income were too high to be able to take advantage of the full $25,000 passive loss.

Anonymous

Answer

joeaguirre0Author

Level 2

What if I bundle a project that I spent a lot of money on into a capital asset, my example being a retaining wall & garden installment, and utilize a depreciation cycle? That way I would at least get some return the following years.