Answered: Just verifying that passive activity losses from rentals can be used to offset passive activity gains from rentals in the following year.

Young-TP · ‎03-02-2020

Skylane · ‎03-02-2020

yup

Losses that are not deductible for a particular tax year because there is insufficient passive activity income to offset them (suspended losses) are carried forward indefinitely and are allowed as deductions against passive income in subsequent years.

If at first you don’t succeed…..find a workaround

View solution in original post

Skylane · ‎03-02-2020

yup

Losses that are not deductible for a particular tax year because there is insufficient passive activity income to offset them (suspended losses) are carried forward indefinitely and are allowed as deductions against passive income in subsequent years.

If at first you don’t succeed…..find a workaround

Just verifying that passive activity losses from rentals can be used to offset passive activity gains from rentals in the following year.

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