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Updated almost 12 years ago,

User Stats

11
Posts
3
Votes
Linh Lynne
  • Denver, CO
3
Votes |
11
Posts

How to handle passive loss on rental properties

Linh Lynne
  • Denver, CO
Posted

Hi-
I have been doing my own taxes and the last few years, I have noticed that none of my passive loss on rental properties can be deducted from my tax because I am not a real estate professional base on the IRS rule. I have not been carry the loss forward because I can't deduct them. I was wondering if I do sale the rental down the road, can I go back and deduct all the passive loss or do I have to keep rolling the passive loss year after year in order to deduct them when I sell the property. Another words 2012 tax year should contain passive loss from 2011, 2010, 2009, etc?

Thanks in advance for your response.

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