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Updated about 5 years ago,
Bank sees Carryover losses seen as liability in refinancing
Currently have 3 rentals carrying legit losses on my tax return for a number of years now. I understand that this will be useful when I sell, in order to reduce my capital gains tax. It also reduces my AGI from my 9-5 by up to $25k per year.
However, while I see this as an asset to reduce current and future tax liability, banks see this carryover loss as a liability. is there any way to overcome this? Any banks out there that use other financial metrics to assess ability to repay? Thanks for any ideas.