Persistent Rental Property Losses

[Arjun K.]

I am trying to understand the implications of the IRS not-for-profit rule.

Let us assume:

- I have a group of rentals

- Each of these rentals shows losses for Tax purposes (rental income less: property taxes, maintenance/insurance/operating expense, interest, and depreciation).

- It is expected all of these rentals will show these losses for 15 years

My questions are:

- Is the only repercussion of these losses that that I cannot deduce my rental business losses against my ordinary income? IRS will have no other problem with me?

- In what circumstance, if any, can I deduct theses losses against my ordinary income?

Thank you