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.
Passive Income vs. Active Participation. Deducting all of the rental expenses and depreciation from the taxpayer's rental income may result in a loss. Because rental activities are generally considered passive activities, rental losses may not be fully deductible.educting all of the rental expenses and depreciation from the taxpayer's rental income may result in a loss. Because rental activities are generally considered passive activities, rental losses may not be fully deductible.