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- vaction rental losses suspending
vaction rental losses suspending
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michele
Level 7
03-25-2024
08:21 PM
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Been preparing this vacation rental for a number of years and the first time the losses should be suspended do to the number of days they spent there compared to days rented but the loss for this year is not being suspended. Is there a box I am missing to be checked.
thx
Michele
2 Comments 2
TaxGuyBill
Level 15
03-25-2024
09:09 PM
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Are you SURE it isn't doing it correctly?
It doesn't automatically mean you can't take a loss. Mortgage interest, real estate tax and rental-only expenses (commissions, management fees, etc.) can still create a loss.
Accountant-Man
Level 13
03-26-2024
10:10 AM
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What TGB said.
And those losses are not passive!
** I'm still a champion... of the world! Even without The Lounge.
