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General Landlording & Rental Properties

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Joel Trout
  • Cadillac, mi
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Must itemize to claim rental losses on schedule E?

Joel Trout
  • Cadillac, mi
Posted Jan 19 2021, 22:49

Hello BP community.  I have 2 rental properties. One shows profit, and the other shows a loss. My accountant says that I can't deduct the losses because the "standard deduction" is higher than my losses. So there is no reason to include the loss property on my schedule E. Is this correct or do I need to find a new accountant?

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