Now that the eldest's surviving spouse is nearing the end of life the question of what will become of the house has come up.

You will be able to use those disallowed passive losses: -Against other passive income -If this rental has net income in a later year these disallowed losses will offset that income-When you sell a rental those carried over disallowed losses offset the gains on sale Other situations you hear about where people CAN use the rental losses to reduce W2 income are where the rentals qualify to be Non-Passive This typically happens in the following two situations: Real Estate Professional Status- A taxpayer or their spouse spends at least 750 during the year on real estate- and more time on it than anything else.

My spouse and I just went through all of that a couple months ago and ended up ditching Armed Forces Insurance to go with State Farm. 

For most single-state investors, a local LLC is the practical choice. 

My spouse and I moved to Ohio last year and we're currently renting in Akron, with the goal to househack by the end of the lease, or sooner if we find the right property.

Originally was house hacking but now has become a single tenant with their own subleases.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $95,000

Cash invested: $30,000

Buy and Hold. Initial and only door, thus far.

.__________________________________ ___________________ Signatures (both spouses, if married) DateReg. § 1.469-5T(f)(4) provides that reasonable means for proving hours may include a statement of services performed AND approximate hours based on appointment books, calendars, etc.

This property was also an on-market deal.The property was a 4 bed/1 bath single family house.

Quote from @Brittany Kelly: Quickest way to put single family home rental into LLC.