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Updated over 4 years ago,

Eric P.'s profile image
Eric P.'s profile image
Eric P.
  • from South Jersey, New Jersey
  • Member since Dec 16, 2014
Connect

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154
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Eric P.'s profile image
Eric P.'s profile image
Eric P.
  • from South Jersey, New Jersey
  • Member since Dec 16, 2014
Connect
Eric P.
  • South Jersey, NJ
50
Votes |
154
Posts
Tax, SDIRAs & Cost Segregation

Rental Real Estate Loss Allowance making over $150k...

Eric P.
  • South Jersey, NJ
Posted

Can someone better help me understand how the Rental REal Estate Loss Allowance works?  I was surprised to find out I'm going to owe $3,800 in taxes this year.  I have just over $17,000 in losses from our rental property on paper, but because my wife and I make over $150,000 via W2s we apparently can't take advantage of this loss?  Is this something that comes back when the house is sold or something?  How does this work exactly...

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