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Heidi Ann Faller
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Negative AGI from rental properties - how to carryforward and use

Heidi Ann Faller
Posted

In 2021 I had overall negative AGI on my personal return due to losses on rental properties. I had no tax liability in 2022 and now here in 2023 I do. How/ where do I utilize that prior loss? Is it an NOL on Schedule 1 other income for my 1040? Is is stuck with the properties that created it and I only get to use it against those properties when they have income or I sell them?

Thanks for reading. I appreciate advice.

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