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Question

Can I choose to not use rental loss forwarding but keep it, if I don't need it to offset the taxable income this year?

Forum|Forum|3 years ago
May 18, 2022
2 replies
0 views

all my tax credits has already reduced tax I own to 0, can I just don't apply the this forwarding in the tax return?

TurboTax Premier Online

Employee

You don't have the option to not use it. Basically, you will still "claim" it. But not to worry, as if your taxable income is already zero, then it will be carried forward. If you don't "claim" it, then you lose it permanently.

mmike0Author

Thanks!

How do I ‘claim’ it? what form I can see the related data?

if you have taxable income you have to use the passive rental loss unless it is not allowed because your adjusted gross income is too high. look at form 8582. if it is used, depending on the specific credit it could be lost, refunded anyway, or carried forward.