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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Should tax returns be filed where agi is-$17,000 due to rental loss.
Should tax returns be filed where agi is-$17,000 due to rental loss.
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hspeck
Level 3
04-03-2023
12:19 PM
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Should tax return of single TP be filed where agi is -$17,000. No other income. Rental of three houses is only income except for socialsecurity.
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IRonMaN
Level 15
04-03-2023
12:49 PM
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Yes, assuming there was enough rental receipts to exceed the filing requirement plus if there is a potential NOL, you would want to report it to allow for some carryovers.
Slava Ukraini!
taxes96786
Level 9
04-04-2023
12:35 AM
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You need to show the IRS how you got to a loss of income.
