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Passive loss carryover
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I rented out my primary residence for a while and has a passive loss carryover. I heard that I cannot use it until I sell the house. 1) Can I offset it with other passive income such as investment income? 2) When I sell the house, how does the passive loss carryover affect the primary...
Passive loss carryover
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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...
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Hello, I have already asked this question, but I made a mistake, So here it is as it supposed to be: Briefly my situation: I and my wife came to the USA in September, 2006. I have J1 visa- scholar (from the very beginning) and my wife J2, we are citizens of Poland. We have never left the USA...
Capital loss carryover provisions
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Is applying a capital loss carryover to a current years capital gain optional? Deails: I have a capital loss carryover of say $5000. In 2007 I have a capital gain of $2000. I know I could offset that gain with some of my capital loss carryover. BUT... suppose I am already paying zero in tax...
On NJ Tax form, for income taxed by NY, do I use the NY AGI or NY Taxable Income amt?
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When filling out the NJ Income Tax form, I have to identify the amount of income taxed by NY State. Do I use the Adjusted Gross Income value (NY form IT-203) line 31, or the NY Taxable Income value from line 37? View more questions Search
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