Can deductions for rental property be taken on a future year if I do not qualify this year because the early retirement cash advance put me over the limit?

[Carl]

Note "quite" how it works. When working through the Rental & Royalty Income (SCH E) section of the program, you enter all income of course, and claim all expenses. Since rental income is passive, you can only deduct passive expenses from passive income. Once those deductible expenses gets your taxable passive income to zero, that's it. Any excess *allowed* deductions are carried over to the next year and deducted then, provided you have the passive income to deduct it from, and are below any other income thresholds. But if you don't "claim" it on your 2016 return, then you can not carry it over to your 2017 return.

[bstark323]

Thank you...that was helpful