Tax Loss AGI +150k

[John Davey]

I apologize if this has been answered prior on here, but im not finding exact in terms of it being property specific or bundled overall

Are tax profits/losses bundled when over 150 AGI to carry over or rental specific

Ex 1.  rental 1 - 2k overall after depreciation, expenses

rental 2 - 10k

rental 3 - NEGATIVE 15k 

Overal rental loss/profit for year (after depreciation, expense, etc) for the 3 rentals is NEGATIVE 3k that cant be written off, but carried over since +150k

Or is it ex. 2

Rental 1 - 2k and Rental 2 - 10k are added for 12k. For that year 12k essentially increasing your taxes

Then the rental 3 (Negative 15k) is carried over since over 150 AGI

So it actually looks like the rentals had a 12k profit overall that year when it was more -3k

Appreciate any guidance

[Austin Cheatham]

So typically passive activity losses are grouped together and carried forward to offset other passive activity losses if your income is over 150k. So if you had 3 rentals with losses and 2 rentals with gains, the losses from the 3 rentals would offset the other 2 rentals and the rest of the loss would be carried forward to offset other passive activity losses in future years if applicable. It is not rental specific, rather it is specific to passive activities.