Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Rental Loss carry-forward
Do rental losses need to be used in the same year?
Example: $15k in personal income but also $12k in real estate losses.
If there's enough deductions to not pay tax on the $15k, then what happens to the $12k rental losses?
I've searched it and apparently Form 8582 is the form to be used, but TurboTax doesn't suggest or mention it once. Can these be carried forward or capitalized?
Second question. How do we capitalize expenses (whether the above losses, or things such as replacing an AC or flooring)? Again, TurboTax is useless here.
Thanks :)