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    msfantastic's Avatar
    msfantastic Posts: 13, Reputation: 1
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    #1

    Sep 14, 2009, 11:45 AM
    Passive loss carryover
    Scenarios:

    I lived overseas for a while so I rented my primary residence during my absence.

    I have a passive loss carryover in year 1. I had additional passive loss carryover in year 2. The house became my primary residence in year 3.

    Can I claim my passive loss carryover in year 3 against regular(active) income? Or do I just lose the passive loss unless I have a rental income again in my lifetime?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 15, 2009, 10:03 AM
    You either have to wait until you show a rental income while you own the house, or until you sell the property, before you can claim the passive loss carryover as a deduction.
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