The tax loss you can claim on your rental property totally depends on
how much money you make, and whether or not your rental activity is
considered a passive activity.
For the majority of real estate investors, rental income is passive
income. As a result:
You can deduct up to $25,000 of rental losses on your tax return. If
your adjusted gross income is between $100,000 and $150,000, you can
deduct up to ($150,000 - Your Income)/2.
If your losses exceed the limit, they can be carried forward for up to
15 years. To learn more about deductible loss and how it affects your
Schedule E, take a look at RealTaxTips.com (http://
www.trexglobal.com). It’s a forum for real estate investors to learn
how others are saving money on their real estate investments, and it’s
an easy way to get prepared for taxes.
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