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Updated almost 2 years ago,
Roll-over real estate losses?
Hopefully someone can help me with this question. I was unable to deduct my real estate losses ($14k) this year due to having too much gross income which was very disappointing since I just put a new $7k furnace in. In past years I have rolled over the losses but this year I would like to sell this property. My question is: can I rollover the losses to this year if I sell regardless of income ? I don't really want to sell if that $14k deduction might just disappear.
Please let me know if the scenario isn't clear!