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New Member
posted Apr 9, 2018 6:44:27 PM

Rental Income - Net Loss

I have a rental property that is coming up with a net loss after deducting mortgage interest, building deprecation and various other expenses.  Can I take the net loss out of my mortgage interest input and apply it as an itemized deduction to reduce my personal tax expense?

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1 Replies
Expert Alumni
Apr 10, 2018 12:16:26 PM

No. Any allowable loss will be shown on line 17 of your 1040. Rental losses are not an itemized deduction.