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H
hspeck
Level 3
April 3, 2023
Question

Should tax returns be filed where agi is-$17,000 due to rental loss.

  • April 3, 2023
  • 3 replies
  • 14 views
Should tax return of single TP be filed where agi is -$17,000.  No other income. Rental of three houses is only income except for socialsecurity.
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3 replies

IRonMaN
IRonMaN
Level 15
April 3, 2023

Yes, assuming there was enough rental receipts to exceed the filing requirement plus if there is a potential NOL, you would want to report it to allow for some carryovers.

Slava Ukraini!
    PATAX
    PATAX
    Level 12
    April 3, 2023

    Always a good idea to file the return even if a net loss.

      T
      taxes96786
      Level 8
      April 4, 2023

      You need to show the IRS how you got to a loss of income.

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