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February 6, 2023
Question

multiple properties rental losses carry forward

  • February 6, 2023
  • 1 reply
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Hi I have 3 rental properties, property A has profit of $1000, property B has loss of $2000, property C has loss of $3000. I can offset $1000 and carry forward $4000 loss, right? how do I put this $4000 to B or C, base on the loss ratio? like property B loss/total loss=2000/5000=40%, then multiply $4000*40%=$1600 for carry forward for property B? thanks

    1 reply

    AmyC
    Employee
    February 6, 2023

    If all 3 properties are on your sch E, the program will add them together for the total loss and then calculate the carryforward based on your income. You will see a carryover worksheet among your forms.

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    February 8, 2023

    thanks