Rental loss carryover tax question
We had a rental loss last year. Since our ordinary income exceeds the passive income tax deduction limit,I could not deduct the loss from my ordinary income. My understanding is that I can carryover the loss to this year and deduct the rent of this year, but I couldn't find a place in Turbo Tax to fill this loss. Can anybody help on this? I am in a hurry to finish the tax by March 1, since my son is going to college in fall.
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• if your MAGI is $150,000 or more ($75,000 or more if you are mar -chuh123- ♂ (146 bytes) () 02/23/2011 postreply 07:54:57