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Rental loss carryover $2500 from 2017. Rental $1000 profit in 2018. Pro shows $200 Section 199A deduction on 2018 1040. Is that the correct outcome?

jfrost23
Level 2
 
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itonewbie
Level 15

Yes.  That's in accordance with §1.199A-3(b)(1)(iv).

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Still an AllStar

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4 Replies 4
itonewbie
Level 15

Yes.  That's in accordance with §1.199A-3(b)(1)(iv).

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Still an AllStar

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rbynaker
Level 11

Is the rental activity a trade or business?  And/or is the client making a safe harbor election?

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jfrost23
Level 2
It's a safe harbor election
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rbynaker
Level 11
Perfect.  You're all set.
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