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spprogue
New Member

Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?

 
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2 Replies
Carl
Level 15

Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?

Loss from what, on what kind of property? Rental income/expenses for residential rental real estate maybe, that you are reporting on SCH E as a part of your personal 1040 tax return?

 

Anonymous
Not applicable

Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?

look at form 8582. it sounds like your loss is from a passive activity. as income goes up the deductibility of passive losses goes down.  O just maybe you incorrectly answered a question about the activity.  

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