I don't think such thing exists as in US, check with your CPA, Accountant for ways to minimize taxes in Canada, as laws are completely different. 

If you sell, there are tax consequences with it that I would encourage you to talk to a CPA about.  

@Mary JayThe contribution would be considered an “excess” contribution which would be taxed at 6% each year until it was withdrawn.Your cpa should be able to give you your MAGI.

With starting to invest in real estate, we plan to go the LLC route though would like to talk through our goals and big picture with an attorney/CPA. 

Talk to a tax attorney or CPA for specifics of YOUR situation. 

Though you'd need to add back losses from PTPs, rental losses, and some other pieces.When in doubt, speak with a CPA who is well versed in your situation and they'll be able to provide a more definitive number for you.

@Steve K.Definitely time to get a CPA and/or tax attorney on board. 

I'm looking for CPA and legal advice for real estate investing (Specifically, rental properties and fix and flips.) in the south suburbs of Denver.

My wife was a CPA.

My CPA is counting this loss as a ‘non-passive’ loss stating that because it is still held and not sold yet is is not a passive loss, is this correct?