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Level 1
September 22, 2022
Question

Client is a RE prof. She has $126K carryover loss from rental properties into 2021, she is limited are taking zero in 2021, why is the carry forward to 2022 is reduced?

  • September 22, 2022
  • 1 reply
  • 3 views
Why is the carryover to 2022 is reduced by the rental income in 2021 even though she is able to use any of it?
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1 reply

puravidapto
Level 7
September 30, 2022

She had 126K rental loss carried over to 2021, and suppose she had 10K rental come in 2021, then her carryover to 2022 is 116K, there is no issue. Please vote FOR my idea below.

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