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Updated about 3 years ago on . Most recent reply

User Stats

45
Posts
43
Votes
Bill Henley
  • Investor
  • Berkeley, CA
43
Votes |
45
Posts

Carry forward of business losses after exiting the business

Bill Henley
  • Investor
  • Berkeley, CA
Posted

As of late 2019, I owned four residential rentals. Three were straight rentals, and one 3-unit building I ran as an AirBnB. Between December 2019 and April 2020, I sold all four properties. Now I am filing my 2021 return. In 2021 I had no rental income and no AirBnB income. But I have about $20,000 in leftover carry-forward deductions. Can I apply these deductions to my 2021 income?

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