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Money and Finances
Reply to "Loss Deduction and over 150,000 AGI"
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[quote=Anonymous]I could be wrong but here is what I did: I had passive income loss of 1.7k on my rental for 2013 which I could not dudect from our ordinary income per IRS rules but I did complete the appropriate schedule (cannot remember the number/letter) and filed it with our taxes. I plan to roll this loss into our 2014 tax filing. For example if the rental turned a profit of 3k in 2014, I only plan to pay taxes on 1.3k. I would love to know if I am wrong though.[/quote]
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