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Updated almost 5 years ago,

User Stats

114
Posts
48
Votes
Gagan P.
  • Real Estate Investor
  • Austin, TX
48
Votes |
114
Posts

Rental Loss carry-forward

Gagan P.
  • Real Estate Investor
  • Austin, TX
Posted

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 :)

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