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.
This means that you will not be allowed to deduct most of your actual expenses on the form. For example, if your monthly rent payment is significantly higher than the average rent in your area, you will not be able to take advantage of your higher payment to reduce your disposable income on Form 22C.You can find the most up-to-date allowable deduction figures on the website of the U.S. Trustee listed above.his means that you will not be allowed to deduct most of your actual expenses on the form. For example, if your monthly rent payment is significantly higher than the average rent in your area, you will not be able to take advantage of your higher payment to reduce your disposable income on Form 22C.