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Submitted By: someone
Answered: February 6, 2018 8:59 pm
Answered: February 6, 2018 8:59 pm
I own rental property. Have the passive activity loss rules been changed by recent tax legislation?
The Tax Cuts and Jobs Act of 2017 did not make any direct changes to the passive activity loss rules. Those with rental real estate and income below a set amount may still be able to deduct up to $25,000 of rental losses annually.
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Tax Glossary
Capital loss carryover
A capital loss that is not deductible because it exceeds the annual $3,000 capital loss ceiling. A carryover loss may be deducted from capital gains of later years plus up to $3,000 of ordinary income.
