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April 2, 2023
Question

Rental Repairs - foundation work

  • April 2, 2023
  • 1 reply
  • 0 views

Hello,

Foundation work cost a few thousand $$$.  This will add to the expenses which means I will have to report a loss.  Most likely I won't be able to deduct the entire amount so will have to carryover.  

 

1) If the rental is sold, can the loss be reported next year? 

    1 reply

    KrisD15
    April 2, 2023

    Yes. 

    Any passive loss carry-over can be applied to the sale. 

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