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Updated 9 months ago, 02/26/2024
Carry forward suspended losses
Hello! I'm working with an accountant and I'm a little annoyed because I'd like to understand how the carry-forward suspended losses is calculated and I'm not getting a clear answer. I thought it would be as simple as adding up all of my losses from Schedule 1 - Additional income and adjustments to income line 5 over the past few years.
I'm a little skeptical of the amount the accountant told me it was given my expenditures and rental income over the years. Appreciate some insight here. Thanks!