Annie Jaffrey. https://www.youtube.com/user/AnnieJaffrey. I love her. She's become one of my favorite gurus she's very sweet and very genuine. She covers a lot of topics from weight loss to the usual.
You cannot deduct passive losses if you do not have any net income from your property rental for the tax year. Passive losses cannot reduce your income from wages, but you can defer the losses to future tax years or deduct any losses carried forward when selling the rental house that generated the loss.
To clarify this point, here are some examples of things that landlords could deduct from a security deposit, meaning that the damage went beyond normal wear-and-tear: 1  Excessive holes in walls from picture hangers. 2  Broken tiles or fixtures in bathrooms. 3  Stopped toilet due to misuse.  Broken 1  walls. Removing paint put up by tenant.