@Frank Yang Thanks so much for your help.

@Kevin Christensen be eachothers yin and yang .

You can take them in the future if you have more rental income (or other passive income), lower combined MAGI, or in the year that you sell the property.

The deduction does phase out based on your MAGI - 50% if your MAGI is greater than $100,000 and 0% above $150,000.

@yang;  he'll pay cap gains via installment sale tax treatment which is to his advantage. 

They will be held for the future if you either sell a property and realize a gain, or have a profitable year thanks to rent.Here are the limits:The passive loss allowance which allows taxpayers with a Modified Adjusted Gross Income (MAGI) of less than $100,000 to deduct up to $25,000 of passive losses against their other income.

Lots of straight depreciation coupled with no 'job' - I basically only earn what I save by not paying someone else = low enough MAGI for free school lunches.  

Steve Forbes comes to mind and I think Andrew Yang had something similar proposed.

Quote from @Isabel Yang: Looking for recommendations on a good real estate agent familiar with selling multifamily properties in Denver area.   

Hello @Steve Yang.