W2--deductions

[Arthur D.]

Hi there friends.

I've purchased my first property late last year.
My only income was months rent Dec.
So. My question is. Can I deduct my loses from my W-2. My loses would be rehabbing, utilities , etc.
About $15k. I calculate. My tax guy devised me to hold the write offs for next year and that we should start our year from dec since we only had one months rent profit. I thought maybe we can incorporate the loses from my regular income if that would be to my benefit.
I read on Bp. That IRS Allows you to deduct the loss from the rental property up $25k if you make less then $100k. I don't think my tax guy is aware of his rule. Please advise.